QUES: Lower interest rates encouraged borrowing. From 2000 to 2003, the Federal Reserve lowered the federal funds rate target from 6.5% to 1.0%. This was done to soften the effects of the collapse of the dot-com bubble and the September 2001 terrorist attacks, as well as to combat a perceived risk of deflation. As early as 2002 it was apparent that credit was fueling housing instead of business investment as some economists went so far as to advocate that the Fed "needs to create a housing bubble to replace the Nasdaq bubble". Moreover, empirical studies using data from advanced countries show that excessive credit growth contributed greatly to the severity of the crisis.
What is one reason the Federal Reserve lowered the federal funds rate target to 1.0% in 2003?

ANS: to combat a perceived risk of deflation

QUES: John Dewey (18591952) modified James' pragmatism to form a theory known as instrumentalism. The role of sense experience in Dewey's theory is crucial, in that he saw experience as unified totality of things through which everything else is interrelated. Dewey's basic thought, in accordance with empiricism was that reality is determined by past experience. Therefore, humans adapt their past experiences of things to perform experiments upon and test the pragmatic values of such experience. The value of such experience is measured experientially and scientifically, and the results of such tests generate ideas that serve as instruments for future experimentation, in physical sciences as in ethics. Thus, ideas in Dewey's system retain their empiricist flavour in that they are only known a posteriori.
Who claimed that humans create experiments based on the perceived future?

ANS: unanswerable

QUES: Burke believed that property was essential to human life. Because of his conviction that people desire to be ruled and controlled, the division of property formed the basis for social structure, helping develop control within a property-based hierarchy. He viewed the social changes brought on by property as the natural order of events, which should be taking place as the human race progressed. With the division of property and the class system, he also believed that it kept the monarch in check to the needs of the classes beneath the monarch. Since property largely aligned or defined divisions of social class, class too, was seen as naturalpart of a social agreement that the setting of persons into different classes, is the mutual benefit of all subjects. Concern for property is not Burke's only influence. As Christopher Hitchens summarises, "If modern conservatism can be held to derive from Burke, it is not just because he appealed to property owners in behalf of stability but also because he appealed to an everyday interest in the preservation of the ancestral and the immemorial."
What did Hitchens think Burke supported preserving?

ANS: the ancestral and the immemorial

QUES: The Protocol on Environmental Protection to the Antarctic Treaty (also known as the Environmental Protocol or Madrid Protocol) came into force in 1998, and is the main instrument concerned with conservation and management of biodiversity in Antarctica. The Antarctic Treaty Consultative Meeting is advised on environmental and conservation issues in Antarctica by the Committee for Environmental Protection. A major concern within this committee is the risk to Antarctica from unintentional introduction of non-native species from outside the region.
What is the Environmental Protection Protocol to the Treaty Antarctic?

ANS:
unanswerable