on 21-Dec-2016 (Wed)

If a Greek shipping company transports the wine that the United States imports from France, the United States would classify the cost of shipping as an import of services from Greece and the wine would be classified as an import of goods from France.

Through, saving households can accumulate financial capital, the returns on which can produce other sources of household income, such as interest, dividends, and capital gains.

Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains).

Suppose that the slope of Warren’s indifference curve at point a is equal to −2, and the slope of Smith’s indifference curve at point a is equal to – 1/2 . Warren is willing to give up 2 ounces of wine for 1 slice of bread, and Smith is willing to give up only 1/2 ounce of wine for 1 slice of bread. But that means she would be willing to give up 2 slices of bread for 1 ounce of wine. What would happen if Warren and Smith are allowed to exchange bread for wine? Suppose they are allowed to exchange at the ratio of one ounce of wine for one slice of bread. Would they both agree to an exchange at that ratio? Yes. Warren would be willing to give up two ounces of wine for a slice of bread, so he would certainly be willing to give up only one ounce of wine for one slice of bread. Correspondingly, Smith would be willing to give up two slices of bread for one ounce of wine, so she would certainly be willing to give up only one slice of bread for one ounce of wine. If they actually made such a trade at the one-to-one ratio, then Smith would end up with more wine and less bread than she started with, and Warren would end up with more bread and less wine than he started with.

Intelligence may be narrowly defined as the capacity to acquire knowledge and understanding, and use it in different novel situations.

the tests and exercises in this book perform another important function, that of using and exercising the brain.

our brain cells continually develop new and stronger connections and adult brains can grow new cells, irrespective of age.

Although it is difficult to define intelligence, indeed it appears to have no formal definition, there is, nevertheless, at least one particularly apposite definition: the capacity to learn and understand.

the lateral prefrontal cortex istheonlyarea of the brain where an increase in blood flow takes place when volunteers tackle complicated puzzles.

The originator of the theory of multiple intelligences, Howard Gardner, a professor of education at Harvard University, defines intelligence as the potential ability to process a certain sort of infor- mation.

The different types of intelligence are for the most part independent of one another, and no type is more important than the other.

Verbal=linguistic, e.g. lexical skills, formal speech, verbal debate, creative writing.

Body=kinesthetic (movement), e.g. body language, physical gestures, creative dance, physical exercise, drama.

Musical=rhythmic, e.g. music performance, singing, musical composition, rhythmic patterns.

Logic=mathematic, e.g. numerical aptitude, problem solving, deciphering codes, abstract symbols and formulae.

Visual=spatial, e.g. patterns and designs, painting, drawing, active imagination, sculpture, colour schemes.

Interpersonal (relationships with others), e.g. person-to-person communication, empathy practices, group projects, collaboration skills, receiving and giving feedback.

Intrapersonal (self-understanding and insight), e.g. thinking strategies, emotional processing, knowing yourself, higher order reasoning, focusing=concentration.

creativity, which has sometimes been referred to as ‘the eighth intelligence’.

memory must be the ninth

Often motivation and dedication are more important than a high measured IQ rating

The form of language is meaning

Words can symbolize both individuals and essences

The individual is any physical being that exists

Only the individual exists in the sense that every material being that exists or has existed is an individual, is itself and not another, and is, therefore, in its individuality unique.

Every man, woman, tree, stone, or grain of sand is an individual.

Essence is that which makes a being what it is and without which it would not be the kind of being it is

Essence is that in an individual which makes it like others in its class

individuality is what makes a being different from others in its class.

every individual belongs to a class, which in turn belongs t o a wider class, we distinguish these classes as species and genus.

A species is a class made up of individuals that have in common the same specific essence or nature.

Man is the species or class to which Shakespeare, Einstein and every other man and woman belong because the essence or nature of man is common to all of them.

Horse is the species or class t o which Bucephalus and every other horse belong because t he essence or nature of horse is common to all horses.

A genus is a wider class made up of two or more different species that have in common the same generic essence or nature.

A genus is a wider class made up of two or more different species that have in common the same generic essence or nature.

Animal is the genus or class to which man, rabbit, horse, oyster, and every other species of animal belong because the essence or nature of animal is the same in all of them.

Flower is the genus to which rose, violet, tulip, and every species of flower belong because the essence or nature of flower is the same in all of them.

An individual animal or flower belongs to a genus only by being a member of a species within that genus.

Households make savings choices when their anticipated future returns are judged to be more valuable today than the present consumption that households must sacrifice when they save.

Households may choose to lend their accumulated savings (in exchange for interest) or invest it in ownership claims in firms (in hopes of receiving dividends and capital gains).

The gender and number determine the ending of the noun. These patterns of endings are called inflexions.