ECON 112 Lecture Notes - Lecture 12: Foreign Portfolio Investment, International Monetary Fund, Virtuous Circle And Vicious Circle

17 views6 pages
22 Oct 2015
Department
Course
!"#"$%&'()$*)+*
",
-)+.&/"*01.&2+34&536$(+.&(3&536$(+.
"",
70)1&89:&;0+&;0+'3$
),
<3/&+);"*1.&+0)1&89:&;0+&;0+'3$&%+0/&"$&(=0&(.;"5)1&.0)+
",
8+3/(=&+)(0
>,
7)$?"$%&32&536$(+"0'&>.&"$5340&5=)$%0'&'6>'()$(")11.&3#0+&("40
",
5,
A53$34"5&8+3/(=
B,
C6)$("(.&32&%33*'&)$*&'0+#"50'
",
:+3*650*&2+34&0)5=&6$"(&32&1)>3+&"$;6(
"",
:+3*65("#"(.
),
D0.&*0(0+4"$)$(&32&1"#"$%&'()$*)+*'
",
8+3/(=&"$&;+3*65("#"(.&"'&(=0&?0.&*0(0+4"$)$(&32&%+3/(=&"$&1"#"$%&
'()$*)+*'
"",
E$&053$34.F'&"$5340&"'&(=0&053$34.F'&36(;6(
""",
G=.&;+3*65("#"(.&"'&'3&"4;3+()$(
>,
H(35?&32&0I6";40$(&)$*&'(+65(6+0'
JK
L'0*&(3&;+3*650&%33*'&)$*&'0+#"50'
MK
:=.'"5)1&5);"()1&;0+&/3+?0+
",
D$3/10*%0&)$*&'?"11'&(=)(&/3+?0+'&)5I6"+0&(=+36%=&0*65)("3$N&
(+)"$"$%N&)$*&0O;0+"0$50
JK
<64)$&5);"()1&;0+&/3+?0+
"",
B$;6('&"$(3&(=0&;+3*65("3$&32&%33*'&)$*&'0+#"50'
JK
:+3#"*0*&>.&$)(6+0N&'65=&)'&1)$*N&+"#0+'N&)$*&4"$0+)1&*0;3'"('
MK
P)(6+)1&+0'36+50'&;0+&/3+?0+
""",
H35"0(.F'&6$*0+'()$*"$%&32&(=0&>0'(&/).'&(3&;+3*650&%33*'&
)$*&'0+#"50'
JK
Q05=$313%"5)1&?$3/10*%0
"#,
90(0+4"$)$('&32&;+3*65("#"(.
5,
:+3*65("#"(.
BB,
B$#0'(&43+0&56++0$(&+0'36+50'&"$&(=0&;+3*65("3$&32&5);"()1",
90#3(0&20/0+&+0'36+50'&(3&;+3*650&%33*'&)$*&'0+#"50'&23+&
56++0$(&53$'64;("3$
JK
Q+)*0R322"",
7)"'0&26(6+0&;+3*65("#"(.),
H)#"$%&)$*&B$#0'(40$(BBB,
S0/0+&+0'36+50'&R6'0*&(3&4)?0&53$'64;("3$&%33*'",
T3+0&+0'36+50'&R(3&4)?0&5);"()1&%33*'"",
U);"()1&'(35?&"$5+0)'0'""",
7"'"$%&;+3*65("#"(."#,
T3+0&+);"*&%+3/(=&"$&89:#,
<"%=0+&')#"$%'&+)(0),
@0$02"(&2+34&)$&0O(+)&6$"(&32&"$;6(",
9051"$0'&)'&(=0&I6)$("(.&32&(=0&"$;6(&"$5+0)'0'"",
9"4"$"'="$%&+0(6+$'>,
<"%=0+&10#01&32&;+3*65("#"(.",
<"%=0+&10#01&32&"$5340"",
P3(&="%=0+&%+3/(=&"$&;+3*65("#"(.&3+&"$5340""",
B$&(=0&13$%&+6$N&="%=0+&')#"$%'&+)(05,
U36$(+"0'&(=)(&'()+(&322&;33+",
Q0$*&(3&;+3/&43+0&+);"*1.&(=)$&536$(+"0'&(=)(&'()+(&322&+"5="",
U)(5=R6;&02205(*,
!3/&;+3*65("#"(.",
B$5+0)'0&/3+?0+'F&;+3*65("#"(.&'6>'()$(")11.&JK
A#0$&'4)11&)436$('&32&5);"()1&"$#0'(40$("",
:33+&536$(+"0'0,
<"%=&;+3*65("#"(.",
H4)11&02205(&3$&;+3*65("#"(.JK
E**"("3$)1&5);"()1&"$#0'(40$("",
7"5=&536$(+"0'2,
9"4"$"'="$%&70(6+$'B-,
E$3(=0+&/).&23+&)&536$(+.&(3&"$#0'(&"$&$0/&5);"()1",
U);"()1&"$#0'(40$(&(=)(&"'&3/$0*&)$*&3;0+)(0*&>.&)&23+0"%$&
0$("(.
JK
S3+0"%$&*"+05(&"$#0'(40$("",
B$#0'(40$(&2"$)$50*&/"(=&23+0"%$&43$0.&>6(&3;0+)(0*&>.&
*340'("5&+0'"*0$('&
JK
S3+0"%$&;3+(231"3&"$#0'(40$(""",
B$#0'(40$(&2+34&)>+3)*),
H340&213/&>)5?&(3&(=0&23+0"%$&5);"()1&3/$0+'",
B$5+0)'0&(=0&053$34.F'&'(35?&32&5);"()1"",
<"%=0+&;+3*65("#"(.""",
<"%=0+&/)%0'"#,
H()(0R32R(=0R)+(&(05=$313%"0'#,
@0$02"('&2+34&"$#0'(40$(>,
A$536+)%0'&213/&32&5);"()1&(3&;33+&536$(+"0'",
S6$*'&2+34&/3+1*F'&)*#)$50*&536$(+"0'"",
73)*'N&'0/0+&'.'(04'N&'5=331'N&3(=0+&(.;0'&32&5);"()1JK
T)?0'&13)$'&(3&10''&*0#013;0*&536$(+"0'""",
E*#"50&)>36(&=3/&(=0&26$*&4"%=(&>0'(&>0&6'0*"#,
G3+1*&>)$?5,
H0(&6;&)2(0+&GGBB",
:31"("5)1&(6+43"1N&"$(0+$)("3$)1&(0$'"3$'N&)$*&4"1"()+.&53$21"5(JK
A53$34"5&*"'(+0''&10)*'&(3"",
A#0+.&536$(+.&=)'&)$&"$(0+0'(&"$&;+343("$%&053$34"5&;+3';0+"(.&
)+36$*&(=0&/3+1*
""",
G3+1*&>)$?&)$*&(=0&B$(0+$)("3$)1&T3$0()+.&S6$**,
B$#0'(40$(&2+34&E>+3)*-,
B$#0'(&"$&=64)$&5);"()1",
8);&>0(/00$&/)%0'&32&0*65)(0*&)$*&6$0*65)(0*&/3+?0+'"",
V;;3+(6$"(.&53'(W&/)%0'&23+%3$0""",
U3$#0.'&;3'"("#0&0O(0+$)1"("0'"#,
!)+%0&'6>'"*"0'&(3&=64)$R5);"()1&"$#0'(40$(JK
:6>1"5&0*65)("3$&#,
A*65)("3$),
:+3>104&23+&;33+&536$(+"0'W&@+)"$&*+)"$>,
A*65)("3$-B,
A*65)("3$",
AO;0$*"(6+0'&(=)(&10)*&(3&)&=0)1(="0+&;3;61)("3$"",
<64)$&5);"()1),
T3+0&;+3*65("#0",
<0)1(="0+&/3+?0+'>,
702105(&)&/3+?0+F'&;+3*65("#"(.",
G)%0'5,
B$5+0)'0&;+3*65("#"(.",
7)"'0&1"#"$%&'()$*)+*'"",
7"%=(&"$#0'(40$('&"$&(=0&=0)1(=&32&(=0&;3;61)("3$*,
B4;+3#0*&=0)1(=&R2+34&>0((0+&$6(+"("3$",
Q)110+& /3+?0+'&R="%=0+&/)%0'&R>0((0+&;+3*65("#"(."",
<"'(3+"5)1&(+0$*'W&13$%R+6$&053$34"5&%+3/(=0,
@05)6'0&(=0"+&;3;61)("3$'&)+0&$3(&=0)1(=.JK
:33+&536$(+"0'&)+0&;33+",
@05)6'0&(=0.&)+0&;33+&)$*&5)$$3(&)223+*&=0)1(=5)+0&)$*&
$6(+"("3$
JK
:3;61)("3$'&)+0&$3(&=0)1(=."",
-"5"36'&5"+510&"$&;33+&536$(+"0'2,
:31"5"0'&(=)(&10)*&(3&43+0&+);"*&053$34"5&%+3/(=",
G361*&$)(6+)11.&"4;+3#0&=0)1(=&36(5340'"",
G="5=&"$&(6+$&/361*&26+(=0+&;+343(0&053$34"5&%+3/(=""",
-"+(636'&5"+510%,
<0)1(=&)$*&P6(+"("3$-BB,
E>"1"(.&32&;03;10&(3&0O0+5"'0&)6(=3+"(.&3#0+&(=0&+0'36+50'&(=0.&
3/$
JK
U36+('&R0$23+50&;+3;0+(.&+"%=('MK
:+3(05(&;+3;0+(.&+"%=('",
:+343(0&;31"("5)1&'()>"1"(."",
Q3&23'(0+&053$34"5&%+3/(=),
:+0+0I6"'"(0&23+&(=0&;+"50&'.'(04&(3&/3+?",
:+3;0+(.&+"%=('>,
T)X3+&;+3>104",
U3$(+)5('&)+0&=)+*&(3&0$23+50"",
S+)6*&%30'&6$;6$"'=0*""",
B4;0*0'&(=0&533+*"$)("$%&;3/0+&32&4)+?0('JK
9"'536+)%0'&*340'("5&')#"$%MK
9"'536+)%0'&"$#0'(40$(&2+34&)>+3)*YK
U3++6;("3$"#,
!)5?&32&;+3;0+(.&+"%=('5,
E&(=+0)(&(3&;+3;0+(.&+"%=('",
70#316("3$'&)$*&536;'"",
70#316("3$)+.&%3#0+$40$(&4"%=(&53$2"'5)(0&(=0&5);"()1&32&'340&
>6'"$0''0'
""",
9340'("5&+0'"*0$('&R10''&"$50$("#0&(3&')#0N&"$#0'(N&)$*&'()+(&$0/&
>6'"$0''0'
"#,
S3+0"%$0+'&R10''&"$50$("#0&(3&"$#0'(#,
:31"("5)1&"$'()>"1"(.*,
:+3;0+(.&7"%=('N&:31"("5)1&H()>"1"(.-BBB,
E#3"*&"$(0+)5("3$&/"(=&(=0&+0'(&32&(=0&/3+1*",
Q)+"22'JK
V(=0+&(+)*0&+0'(+"5("3$'MK
B$2)$(R"$*6'(+.&)+%640$("",
E*#0+'0&02205(&3$&053$34"5&%+3/(=""",
B$/)+*R3+"0$(0*&;31"5"0'),
B$(0%+)(0&"$(3&(=0&/3+1*&053$34.",
B$(0+$)("3$)1&(+)*0&"$&%33*'&)$*&'0+#"50'"",
A53$34"5&%+3/(=""",
V6(/)+*R3+"0$(0*&;31"5"0'>,
83#0+$40$(&;31"5.",
A)'"0+&(3&(+)*0&23+&536$(+"0'&/"(=&$)(6+)1&'0);3+('JK
803%+);=."",
E436$(&32&(+)*0&RR *0(0+4"$0*&>.5,
S+00&Q+)*0BZ,
S)+4"$%&40(=3*'JK
E0+3';)50&+0'0)+5=&[&E"+&S3+50\&PEHEKMK
P)("3$)1&'5"0$50&236$*)("3$)K
P)("3$)1&"$'("(6(0'&32&=0)1(=>K
70'0)+5=&%+)$('YK
Q)O&>+0)?']K
:)(0$(&'.'(04^K
83#0+$40$(&R0$536+)%0'&+0'0)+5=&)$*&*0#103;40$(",
D$3/10*%0&R;6>1"5&%33*),
70'0)+5=&)$*&90#013;40$(Z,
!)+%0+&(3()1&36(;6(&32&%33*'&)$*&'0+#"50'JK
T3+0&/3+?0+'&(3&;+3*650&%33*'&)$*&'0+#"50'",
T3+0&53$'640+'&"",
!)+%0&;3;61)("3$),
H(+)"$&'35"0(.F'&)>"1"(.&(3&;+3#"*0&23+&"('012JK
T)$?"$*&R*3340*&(3&23+0#0+&1"#0&"$&;3#0+(.MK
T)1(=6'W&)$&0#0+R"$5+0)'"$%&;3;61)("3$",
H(+0(5="$%&$)(6+)1&+0'36+50'>,
H;+0)*&(=0&5);"()1&'(35?&43+0&(="$1.JK
!3/0+&;+3*65("#"(.&;0+&/3+?0+MK
!3/0+&89:&;0+&/3+?0+YK
<"%=&;3;61)("3$&%+3/(=",
9"16("$%&(=0&5);"()1&'(35?5,
83#0+$40$(&+0%61)("3$",
B$5+0)'0*&)/)+0$0''&32&>"+(=&53$(+31"",
AI6)1&3;;3+(6$"("0'&23+&/340$""",
70*65"$%&(=0&+)(0&32&;3;61)("3$&%+3/(=*,
A$%"$0&23+&(05=$313%"5)1&;+3%+0''&)$*&053$34"5&;+3';0+"(.JK
T3+0&;03;10&_&43+0&'5"0$("'(N&43+0&"$#0$(3+'N&43+0&
0$%"$00+'
MK
G3+1*&;3;61)("3$&%+3/(=",
:+343("$%&(05=$313%"5)1&;+3%+0''0,
:3;61)("3$&8+3/(=ZB,
Chapter(12
S+"*).N&V5(3>0+&J`N&MaJ^
JWab&:T
Unlock document

This preview shows pages 1-2 of the document.
Unlock all 6 pages and 3 million more documents.

Already have an account? Log in
!"#"$%&'()$*)+*",
-)+.&/"*01.&2+34&536$(+.&(3&536$(+."",
70)1&89:&;0+&;0+'3$),
<3/&+);"*1.&+0)1&89:&;0+&;0+'3$&%+0/&"$&(=0&(.;"5)1&.0)+",
8+3/(=&+)(0>,
7)$?"$%&32&536$(+"0'&>.&"$5340&5=)$%0'&'6>'()$(")11.&3#0+&("40",
@05)6'0&32&*"220+0$50'&"$&%+3/(=&+)(0'5,
A53$34"5&8+3/(=B,
C6)$("(.&32&%33*'&)$*&'0+#"50'",
:+3*650*&2+34&0)5=&6$"(&32&1)>3+&"$;6("",
:+3*65("#"(.),
D0.&*0(0+4"$)$(&32&1"#"$%&'()$*)+*'",
8+3/(=&"$&;+3*65("#"(.&"'&(=0&?0.&*0(0+4"$)$(&32&%+3/(=&"$&1"#"$%&
'()$*)+*'
"",
E$&053$34.F'&"$5340&"'&(=0&053$34.F'&36(;6(""",
G=.&;+3*65("#"(.&"'&'3&"4;3+()$(>,
H(35?&32&0I6";40$(&)$*&'(+65(6+0'JK
L'0*&(3&;+3*650&%33*'&)$*&'0+#"50'MK
:=.'"5)1&5);"()1&;0+&/3+?0+",
D$3/10*%0&)$*&'?"11'&(=)(&/3+?0+'&)5I6"+0&(=+36%=&0*65)("3$N&
(+)"$"$%N&)$*&0O;0+"0$50
JK
<64)$&5);"()1&;0+&/3+?0+"",
B$;6('&"$(3&(=0&;+3*65("3$&32&%33*'&)$*&'0+#"50'JK
:+3#"*0*&>.&$)(6+0N&'65=&)'&1)$*N&+"#0+'N&)$*&4"$0+)1&*0;3'"('MK
P)(6+)1&+0'36+50'&;0+&/3+?0+""",
H35"0(.F'&6$*0+'()$*"$%&32&(=0&>0'(&/).'&(3&;+3*650&%33*'&
)$*&'0+#"50'
JK
Q05=$313%"5)1&?$3/10*%0"#,
90(0+4"$)$('&32&;+3*65("#"(.5,
:+3*65("#"(.BB,
B$#0'(&43+0&56++0$(&+0'36+50'&"$&(=0&;+3*65("3$&32&5);"()1
",
90#3(0&20/0+&+0'36+50'&(3&;+3*650&%33*'&)$*&'0+#"50'&23+&
56++0$(&53$'64;("3$
JK
Q+)*0R322
"",
7)"'0&26(6+0&;+3*65("#"(.
),
H)#"$%&)$*&B$#0'(40$(
BBB,
S0/0+&+0'36+50'&R6'0*&(3&4)?0&53$'64;("3$&%33*'
",
T3+0&+0'36+50'&R(3&4)?0&5);"()1&%33*'
"",
U);"()1&'(35?&"$5+0)'0'
""",
7"'"$%&;+3*65("#"(.
"#,
T3+0&+);"*&%+3/(=&"$&89:
#,
<"%=0+&')#"$%'&+)(0
),
@0$02"(&2+34&)$&0O(+)&6$"(&32&"$;6(
",
9051"$0'&)'&(=0&I6)$("(.&32&(=0&"$;6(&"$5+0)'0'
"",
9"4"$"'="$%&+0(6+$'
>,
<"%=0+&10#01&32&;+3*65("#"(.
",
<"%=0+&10#01&32&"$5340
"",
P3(&="%=0+&%+3/(=&"$&;+3*65("#"(.&3+&"$5340
""",
B$&(=0&13$%&+6$N&="%=0+&')#"$%'&+)(0
5,
U36$(+"0'&(=)(&'()+(&322&;33+
",
Q0$*&(3&;+3/&43+0&+);"*1.&(=)$&536$(+"0'&(=)(&'()+(&322&+"5=
"",
U)(5=R6;&02205(
*,
!3/&;+3*65("#"(.
",
B$5+0)'0&/3+?0+'F&;+3*65("#"(.&'6>'()$(")11.&
JK
A#0$&'4)11&)436$('&32&5);"()1&"$#0'(40$(
"",
:33+&536$(+"0'
0,
<"%=&;+3*65("#"(.
",
H4)11&02205(&3$&;+3*65("#"(.
JK
E**"("3$)1&5);"()1&"$#0'(40$(
"",
7"5=&536$(+"0'
2,
9"4"$"'="$%&70(6+$'
B-,
E$3(=0+&/).&23+&)&536$(+.&(3&"$#0'(&"$&$0/&5);"()1
",
U);"()1&"$#0'(40$(&(=)(&"'&3/$0*&)$*&3;0+)(0*&>.&)&23+0"%$&
0$("(.
JK
S3+0"%$&*"+05(&"$#0'(40$(
"",
B$#0'(40$(&2"$)$50*&/"(=&23+0"%$&43$0.&>6(&3;0+)(0*&>.&
*340'("5&+0'"*0$('&
JK
S3+0"%$&;3+(231"3&"$#0'(40$(""",
B$#0'(40$(&2+34&)>+3)*
),
H340&213/&>)5?&(3&(=0&23+0"%$&5);"()1&3/$0+'",
B$5+0)'0&(=0&053$34.F'&'(35?&32&5);"()1"",
<"%=0+&;+3*65("#"(.""",
<"%=0+&/)%0'"#,
H()(0R32R(=0R)+(&(05=$313%"0'#,
@0$02"('&2+34&"$#0'(40$(>,
A$536+)%0'&213/&32&5);"()1&(3&;33+&536$(+"0'",
S6$*'&2+34&/3+1*F'&)*#)$50*&536$(+"0'"",
73)*'N&'0/0+&'.'(04'N&'5=331'N&3(=0+&(.;0'&32&5);"()1JK
T)?0'&13)$'&(3&10''&*0#013;0*&536$(+"0'""",
E*#"50&)>36(&=3/&(=0&26$*&4"%=(&>0'(&>0&6'0*"#,
G3+1*&>)$?5,
H0(&6;&)2(0+&GGBB",
:31"("5)1&(6+43"1N&"$(0+$)("3$)1&(0$'"3$'N&)$*&4"1"()+.&53$21"5(JK
A53$34"5&*"'(+0''&10)*'&(3"",
A#0+.&536$(+.&=)'&)$&"$(0+0'(&"$&;+343("$%&053$34"5&;+3';0+"(.&
)+36$*&(=0&/3+1*
""",
G3+1*&>)$?&)$*&(=0&B$(0+$)("3$)1&T3$0()+.&S6$**,
B$#0'(40$(&2+34&E>+3)*
-,
B$#0'(&"$&=64)$&5);"()1",
8);&>0(/00$&/)%0'&32&0*65)(0*&)$*&6$0*65)(0*&/3+?0+'"",
V;;3+(6$"(.&53'(W&/)%0'&23+%3$0""",
U3$#0.'&;3'"("#0&0O(0+$)1"("0'"#,
!)+%0&'6>'"*"0'&(3&=64)$R5);"()1&"$#0'(40$(JK
:6>1"5&0*65)("3$&#,
A*65)("3$),
:+3>104&23+&;33+&536$(+"0'W&@+)"$&*+)"$>,
A*65)("3$-B,
A*65)("3$",
AO;0$*"(6+0'&(=)(&10)*&(3&)&=0)1(="0+&;3;61)("3$"",
<64)$&5);"()1),
T3+0&;+3*65("#0",
<0)1(="0+&/3+?0+'>,
702105(&)&/3+?0+F'&;+3*65("#"(.",
G)%0'5,
B$5+0)'0&;+3*65("#"(.",
7)"'0&1"#"$%&'()$*)+*'"",
7"%=(&"$#0'(40$('&"$&(=0&=0)1(=&32&(=0&;3;61)("3$*,
B4;+3#0*&=0)1(=&R2+34&>0((0+&$6(+"("3$",
Q)110+& /3+?0+'&R="%=0+&/)%0'&R>0((0+&;+3*65("#"(."",
<"'(3+"5)1&(+0$*'W&13$%R+6$&053$34"5&%+3/(=0,
@05)6'0&(=0"+&;3;61)("3$'&)+0&$3(&=0)1(=.JK
:33+&536$(+"0'&)+0&;33+",
@05)6'0&(=0.&)+0&;33+&)$*&5)$$3(&)223+*&=0)1(=5)+0&)$*&
$6(+"("3$
JK
:3;61)("3$'&)+0&$3(&=0)1(=."",
-"5"36'&5"+510&"$&;33+&536$(+"0'2,
:31"5"0'&(=)(&10)*&(3&43+0&+);"*&053$34"5&%+3/(=",
G361*&$)(6+)11.&"4;+3#0&=0)1(=&36(5340'"",
G="5=&"$&(6+$&/361*&26+(=0+&;+343(0&053$34"5&%+3/(=""",
-"+(636'&5"+510%,
<0)1(=&)$*&P6(+"("3$-BB,
E>"1"(.&32&;03;10&(3&0O0+5"'0&)6(=3+"(.&3#0+&(=0&+0'36+50'&(=0.&
3/$
JK
U36+('&R0$23+50&;+3;0+(.&+"%=('MK
:+3(05(&;+3;0+(.&+"%=('",
:+343(0&;31"("5)1&'()>"1"(."",
Q3&23'(0+&053$34"5&%+3/(=),
:+0+0I6"'"(0&23+&(=0&;+"50&'.'(04&(3&/3+?",
:+3;0+(.&+"%=('>,
T)X3+&;+3>104",
U3$(+)5('&)+0&=)+*&(3&0$23+50"",
S+)6*&%30'&6$;6$"'=0*""",
B4;0*0'&(=0&533+*"$)("$%&;3/0+&32&4)+?0('JK
9"'536+)%0'&*340'("5&')#"$%MK
9"'536+)%0'&"$#0'(40$(&2+34&)>+3)*YK
U3++6;("3$"#,
!)5?&32&;+3;0+(.&+"%=('5,
E&(=+0)(&(3&;+3;0+(.&+"%=('",
70#316("3$'&)$*&536;'"",
70#316("3$)+.&%3#0+$40$(&4"%=(&53$2"'5)(0&(=0&5);"()1&32&'340&
>6'"$0''0'
""",
9340'("5&+0'"*0$('&R10''&"$50$("#0&(3&')#0N&"$#0'(N&)$*&'()+(&$0/&
>6'"$0''0'
"#,
S3+0"%$0+'&R10''&"$50$("#0&(3&"$#0'(#,
:31"("5)1&"$'()>"1"(.*,
:+3;0+(.&7"%=('N&:31"("5)1&H()>"1"(.-BBB,
E#3"*&"$(0+)5("3$&/"(=&(=0&+0'(&32&(=0&/3+1*",
Q)+"22'JK
V(=0+&(+)*0&+0'(+"5("3$'MK
B$2)$(R"$*6'(+.&)+%640$("",
E*#0+'0&02205(&3$&053$34"5&%+3/(=""",
B$/)+*R3+"0$(0*&;31"5"0'),
B$(0%+)(0&"$(3&(=0&/3+1*&053$34.",
B$(0+$)("3$)1&(+)*0&"$&%33*'&)$*&'0+#"50'"",
A53$34"5&%+3/(=""",
V6(/)+*R3+"0$(0*&;31"5"0'>,
83#0+$40$(&;31"5.",
A)'"0+&(3&(+)*0&23+&536$(+"0'&/"(=&$)(6+)1&'0);3+('JK
803%+);=."",
E436$(&32&(+)*0&RR *0(0+4"$0*&>.5,
S+00&Q+)*0BZ,
S)+4"$%&40(=3*'JK
E0+3';)50&+0'0)+5=&[&E"+&S3+50\&PEHEKMK
P)("3$)1&'5"0$50&236$*)("3$)K
P)("3$)1&"$'("(6(0'&32&=0)1(=>K
70'0)+5=&%+)$('YK
Q)O&>+0)?']K
:)(0$(&'.'(04^K
83#0+$40$(&R0$536+)%0'&+0'0)+5=&)$*&*0#103;40$(",
D$3/10*%0&R;6>1"5&%33*),
70'0)+5=&)$*&90#013;40$(Z,
!)+%0+&(3()1&36(;6(&32&%33*'&)$*&'0+#"50'JK
T3+0&/3+?0+'&(3&;+3*650&%33*'&)$*&'0+#"50'",
T3+0&53$'640+'&"",
!)+%0&;3;61)("3$),
H(+)"$&'35"0(.F'&)>"1"(.&(3&;+3#"*0&23+&"('012JK
T)$?"$*&R*3340*&(3&23+0#0+&1"#0&"$&;3#0+(.MK
T)1(=6'W&)$&0#0+R"$5+0)'"$%&;3;61)("3$",
H(+0(5="$%&$)(6+)1&+0'36+50'>,
H;+0)*&(=0&5);"()1&'(35?&43+0&(="$1.JK
!3/0+&;+3*65("#"(.&;0+&/3+?0+MK
!3/0+&89:&;0+&/3+?0+YK
<"%=&;3;61)("3$&%+3/(=",
9"16("$%&(=0&5);"()1&'(35?5,
83#0+$40$(&+0%61)("3$",
B$5+0)'0*&)/)+0$0''&32&>"+(=&53$(+31"",
AI6)1&3;;3+(6$"("0'&23+&/340$""",
70*65"$%&(=0&+)(0&32&;3;61)("3$&%+3/(=*,
A$%"$0&23+&(05=$313%"5)1&;+3%+0''&)$*&053$34"5&;+3';0+"(.JK
T3+0&;03;10&_&43+0&'5"0$("'(N&43+0&"$#0$(3+'N&43+0&
0$%"$00+'
MK
G3+1*&;3;61)("3$&%+3/(=",
:+343("$%&(05=$313%"5)1&;+3%+0''0,
:3;61)("3$&8+3/(=ZB,
Chapter(12
S+"*).N&V5(3>0+&J`N&MaJ^ JWab&:T
Unlock document

This preview shows pages 1-2 of the document.
Unlock all 6 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.