QUES: During April 2009, U.S. Federal Reserve vice-chair Janet Yellen discussed these paradoxes: "Once this massive credit crunch hit, it didn't take long before we were in a recession. The recession, in turn, deepened the credit crunch as demand and employment fell, and credit losses of financial institutions surged. Indeed, we have been in the grips of precisely this adverse feedback loop for more than a year. A process of balance sheet deleveraging has spread to nearly every corner of the economy. Consumers are pulling back on purchases, especially on durable goods, to build their savings. Businesses are cancelling planned investments and laying off workers to preserve cash. And, financial institutions are shrinking assets to bolster capital and improve their chances of weathering the current storm. Once again, Minsky understood this dynamic. He spoke of the paradox of deleveraging, in which precautions that may be smart for individuals and firmsand indeed essential to return the economy to a normal statenevertheless magnify the distress of the economy as a whole."

What occurred in nearly every corner of the economy after the financial crisis of 2007?
What is the answer?
ANS: balance sheet deleveraging
QUES: Eavesdropping is the act of surreptitiously listening to a private conversation, typically between hosts on a network. For instance, programs such as Carnivore and NarusInsight have been used by the FBI and NSA to eavesdrop on the systems of internet service providers. Even machines that operate as a closed system (i.e., with no contact to the outside world) can be eavesdropped upon via monitoring the faint electro-magnetic transmissions generated by the hardware; TEMPEST is a specification by the NSA referring to these attacks.

What program does the FBI use to eavesdrop on closed systems?
What is the answer?
ANS: unanswerable
QUES: To put it another way, a thing or person is often seen as having a "defining essence" or a "core identity" that is unchanging, and describes what the thing or person really is. In this way of thinking, things and people are seen as fundamentally the same through time, with any changes being qualitative and secondary to their core identity (e.g. "Mark's hair has turned gray as he has gotten older, but he is still the same person"). But in Whitehead's cosmology, the only fundamentally existent things are discrete "occasions of experience" that overlap one another in time and space, and jointly make up the enduring person or thing. On the other hand, what ordinary thinking often regards as "the essence of a thing" or "the identity/core of a person" is an abstract generalization of what is regarded as that person or thing's most important or salient features across time. Identities do not define people, people define identities. Everything changes from moment to moment, and to think of anything as having an "enduring essence" misses the fact that "all things flow", though it is often a useful way of speaking.

What did Whitehead believe were essentially the only things that truly exist?
What is the answer?
ANS:
discrete "occasions of experience" that overlap one another in time and space, and jointly make up the enduring person or thing