! . Monetarist economists long contended that the money-supply growth could affect the macroeconomy These included Milton Friedman who early in his career advocated that government budget deficits during recessions be financed in equal amount by money creation to help to stimulate aggregate demand for output. Later he advocated simply increasing the monetary supply at a low constant rate as the best way of maintaining low inflation and stable output growth. However when U.S Federal Reserve Chairman Paul Volcker tried this policy starting in October 1979 it was found to be impractical because of the highly unstable relationship between monetary aggregates and other macroeconomic variables. Even Milton Friedman later acknowledged that direct money supply targeting was less successful than he had hoped, 9 See also Water sports are some of the most popular in Singapore At the 2016 Rio Olympics Joseph Schooling won Singapore's first Olympic gold medal claiming the 100-metre butterfly in a new Olympic record time of 50.39 seconds Three swimmers including Michael Phelps were in an unprecedented three-way tie for silver. Singapore sailors have had success on the international stage with their Optimist team being considered among the best in the world Despite its size the country has dominated swim meets in the Southeast Asia Games (SEA) Its men water polo team has won the SEA Games gold medal for the 27th time in 2017 continuing Singapore sport's longest winning streak.
Background S$49,715 US$121.000 Upon completion of the 4- or 5-year secondary school education students (excluding IP students) will participate in the annual Singaporean GCE 'O' Level the results of which determine which pre-universities or post-secondary institutions they may apply for Pre-university centres include junior colleges for a two-year course leading up to GCE 'A' Level or the Millennia Institute for a three-year course leading up to GCE 'A' Level Junior colleges and the Millennia Institute accept students on merit with a greater emphasis on academics than vocational technical education Students who wish to pursue specialised education go on to pre-universities institutions such as the polytechnics or arts institutions where they receive a diploma upon successful completion of their courses. Nominal Fossilised remains of Homo erectus popularly known as the "Java Man" dating back 1.7 million years were found along the banks of the Bengawan Solo River. Raffles Medical Group Main article: List of parks in Singapore Second World War. . .
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