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With the creation of the Bank of England in 1694, which acquired the responsibility to print notes and back them with gold the idea of monetary policy as independent of executive action began to be established the goal of monetary policy was to maintain the value of the coinage print notes which would trade at par to specie and prevent coins from leaving circulation The establishment of central banks by industrializing nations was associated then with the desire to maintain the nation's peg to the gold standard and to trade in a narrow band with other gold-backed currencies To accomplish this end central banks as part of the gold standard began setting the interest rates that they charged both their own borrowers and other banks who required liquidity The maintenance of a gold standard required almost monthly adjustments of interest rates The gold standard is a system under which the price of the national currency is measured in units of gold bars and is kept constant by the government's promise to buy or sell gold at a fixed price in terms of the base currency The gold standard might be regarded as a special case of "fixed exchange rate" policy or as a special type of commodity price level targeting Nowadays this type of monetary policy is no longer used by any country. Raffles also planned to start a British presence in Achin on the northern tip of Sumatra As soon as he had departed the Raja of Rhio (Riau) sent letters to the Dutch disclaiming the deal protesting innocence and blaming British encroachment Meanwhile in Malacca the Dutch acted at once commanding that no Malays could go to Singapore Raffles' bold claim of Singapore created a curious geographic situation: although Penang was clearly closer in distance to Singapore Raffles in his capacity as Lieutenant-Governor of Bencoolen was nominally still in control This undoubtedly irked the authorities in Penang to the point where they refused to send any sepoys to Singapore to complete the garrison. . 7 Creative writing, 3 Non-sovereign city-states Students scoring 20 points and below may be admitted for either a Science or Arts Course In addition a student must also achieve at least a C6 grade which is 50% or higher in the GCE 'O' Level English Language and Mathematics papers to qualify for junior college admission Pre-university centres that are particularly associated with academic excellence however usually expect students to attain points in the single digits to be admitted This is because the system is merit-driven with places given to those with lower scores first, Trade in Singapore has benefited from the extensive network of trade agreements Singapore has passed According to Healy Consultants Singapore has free trade access to the entirety of the ASEAN network with import duty reduced when dealing with Indonesia Malaysia the Philippines Thailand Brunei Burma Cambodia Laos and Vietnam. 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, (90.1) 32.2 ?Renminbi Ptolemy's Almagest is the only surviving comprehensive ancient treatise on astronomy Babylonian astronomers had developed arithmetical techniques for calculating astronomical phenomena; Greek astronomers such as Hipparchus had produced geometric models for calculating celestial motions Ptolemy however claimed to have derived his geometrical models from selected astronomical observations by his predecessors spanning more than 800 years though astronomers have for centuries suspected that his models' parameters were adopted independently of observations. Ptolemy presented his astronomical models in convenient tables which could be used to compute the future or past position of the planets the Almagest also contains a star catalogue which is a version of a catalogue created by Hipparchus Its list of forty-eight constellations is ancestral to the modern system of constellations but unlike the modern system they did not cover the whole sky (only the sky Hipparchus could see) Across Europe the Middle East and North Africa in the Medieval period it was the authoritative text on astronomy with its author becoming an almost mythical figure called Ptolemy King of Alexandria the Almagest was preserved like most of extant Classical Greek science in Arabic manuscripts (hence its familiar name) Because of its reputation it was widely sought and was translated twice into Latin in the 12th century once in Sicily and again in Spain. Ptolemy's model like those of his predecessors was geocentric and was almost universally accepted until the appearance of simpler heliocentric models during the scientific revolution, Monetary policy is referred to as being either expansionary or contractionary Expansionary policy occurs when a monetary authority uses its tools to stimulate the economy An expansionary policy maintains short-term interest rates at a lower than usual rate or increases the total supply of money in the economy more rapidly than usual It is traditionally used to try to combat unemployment in a recession by lowering interest rates in the hope that less expensive credit will entice businesses into expanding This increases aggregate demand (the overall demand for all goods and services in an economy) which boosts short-term growth as measured by gross domestic product (GDP) growth Expansionary monetary policy usually diminishes the value of the currency relative to other currencies (the exchange rate).
. Singapore has a growing stand-up comedy scene with three active rooms The three comedy rooms in Singapore are weekly starting with Comedy Masala on Tuesdays Talk Cock Comedy on Wednesdays and Comedy Hub Singapore on Mondays and Thursdays Every month The Comedy Club Asia features leading international comics such as Shazia Mirza and Imran Yusuf Comedy Masala also brings in international comedians such as Paul Ogata. Kumar a drag queen who has performed in Singapore for more than 17 years is one of Singapore's leading stand-up comedians, Primary 228,670 15,183 1940: 376,000 active with 2 million reserves in 31 divisions.
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