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. Junior College House of Representatives Republic Countries are allowed to combine PISA with complementary national tests, Interlude in England 4 Geology Polytechnics offer a wide range of courses in various fields including engineering business studies accountancy tourism and hospitality management mass communications digital media and biotechnology There are also specialised courses such as marine engineering nautical studies nursing and optometry They provide a more industry-oriented education as an alternative to junior colleges for post-secondary studies About 40% of each Secondary 4 cohort would enroll in Polytechnics. Notable alumni from Polytechnics in Singapore include former NUS President Dr Shih Choon Fong and CEO of Creative Technology Sim Wong Hoo. While in Singapore Raffles established schools and churches in the native languages He allowed missionaries and local businesses to flourish Certain colonial aspects remained: a European town was quickly built to segregate the population separated by a river; carriage roads were built and cantonments constructed for the soldiers Otherwise no other duties were imposed. . . Singapore business directory Eventually Najib's rule came to an end on 9 May 2018 when Mahathir himself a former UMNO president and the Pakatan Harapan coalition won the 14th General Election by gaining 45 seats with UMNO losing 54 putting an end to 61 years of UMNO Rule which began since the country's independence in 1957. On 12 May three days after the election three UMNO Member of Parliament left and joined Mahathir's Bersatu the subsequent day as many as 50 UMNO party members including Kelantan Wanita UMNO information chief Zarina Md Eusope left and also joined Bersatu. Sabah UMNO also saw an exodus of members with Sabah Wanita UMNO chief alongside 200 other members leaving the party to join the Parti Warisan Sabah in late May and 10 state legislative assemblyman five Member of Parliament and two Senators in December the same year. Water buffalo ploughing rice fields near Salatiga Central Java The short-term effects of monetary policy can be influenced by the degree to which announcements of new policy are deemed credible in particular when an anti-inflation policy is announced by a central bank in the absence of credibility in the eyes of the public inflationary expectations will not drop and the short-run effect of the announcement and a subsequent sustained anti-inflation policy is likely to be a combination of somewhat lower inflation and higher unemployment (see Phillips curve#NAIRU and rational expectations) But if the policy announcement is deemed credible inflationary expectations will drop commensurately with the announced policy intent and inflation is likely to come down more quickly and without so much of a cost in terms of unemployment.

In practice to implement any type of monetary policy the main tool used is modifying the amount of base money in circulation The monetary authority does this by buying or selling financial assets (usually government obligations) These open market operations change either the amount of money or its liquidity (if less liquid forms of money are bought or sold) The multiplier effect of fractional reserve banking amplifies the effects of these actions on the money supply which includes bank deposits as well as base money; . .