×
Log in to StudySoup
Get Full Access to Fundamentals Of Differential Equations - 8 Edition - Chapter 9.4 - Problem 9e
Join StudySoup for FREE
Get Full Access to Fundamentals Of Differential Equations - 8 Edition - Chapter 9.4 - Problem 9e

Already have an account? Login here
×
Reset your password

In 9–12, write the given system as a set of scalar

Fundamentals of Differential Equations | 8th Edition | ISBN: 9780321747730 | Authors: R. Kent Nagle, Edward B. Saff, Arthur David Snider ISBN: 9780321747730 43

Solution for problem 9E Chapter 9.4

Fundamentals of Differential Equations | 8th Edition

  • Textbook Solutions
  • 2901 Step-by-step solutions solved by professors and subject experts
  • Get 24/7 help from StudySoup virtual teaching assistants
Fundamentals of Differential Equations | 8th Edition | ISBN: 9780321747730 | Authors: R. Kent Nagle, Edward B. Saff, Arthur David Snider

Fundamentals of Differential Equations | 8th Edition

4 5 1 324 Reviews
24
0
Problem 9E

Problem 9E

In Problems 9–12, write the given system as a set of scalar equations.

Step-by-Step Solution:
Step 1 of 3

NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Student: THIS FORM MUST BE COMPLETELY FILLED IN Follow these procedures: If requested by your instructor, please include an assignment cover sheet. This will become the first page of your assignment. In addition, your assignment header should include your last name, first initial, course code, dash, and assignment number. This should be left justified, with the page number right justified. For example: Save a copy of your assignments: You may need to re­submit an assignment at your instructor’s request. Make sure you save your files in accessible location. Academic integrity: All work submitted in each course must be your own original work. This includes all assignments, exams, term papers, and other projects required by your instructor. Knowingly submitting another person’s work as your own, without properly citing the source of the work, is considered plagiarism. This will result in an unsatisfactory grade for the work submitted or for the entire course. It may also result in academic dismissal from the University. IB7002­8 Isabel Wan, PhD International Business Assignment 2 Faculty Use Only 2 Introduction The purpose of this week’s assignment is to critically evaluate the global financial crisis. The global financial crisis took place in 2008 to 2009 and started with a large number of factors. While this paper discusses a portion of these factors, the one that stands out points directly to the human factor and the associated greed. This greed that began with the housing market, subsequently involved subprime lending that took place, and President Bush’s need to go to war, are noted as only a few of the major factors playing into the recession. The United States has such a large market that any major impact to the economy will have a domino effect. This domino affect led a number of other major markets into significant financial difficulties, decreased overall global trade, and allowed a number of other countries to acquire the shifted power. In addition to the overall discussion of the 2008­2009 financial crisis, the following areas will be discussed: 1) Causes and Explanation, 2) The Impact, Outcomes, and Results, and 3) The Global Response. Causes and Explanation Payne (2013) goes into great detail about the potential causes of the global financial crisis. He references the fact that it is difficult to specifically point at exact reasons for crisis, but he states that there are a number that are talked about most frequently. The six areas Payne discusses that are listed as probable causes are as follows: “(1) deregulation of financial markets; (2) sophisticated financial innovations linked to rapid changes in computer technologies; (3) excessive executive compensation; (4) low interest rates; (5) subprime loans, especially for mortgages; and (6) speculation in general, with an emphasis on speculation in housing”. Just looking at the list of items, it could have been any number of things or a combination of any 3 number of the items identified above. One of the main points to recognize factors that is for certain is that humans were involved and well as their associated greed. Those two factors alone can and do cause any number of issues. After this financial crisis began its downward spiral, blame began to be thrown anywhere it would stick. As with any controversy, anyone involved or that touched the issue at hand would face possible blame. In this article, the auditors were noted as part of the problem. Doogar, Rowe, and Sivadasan (2015) question the auditors that were to be the eyes and ears of the financial system. They were to respond to the risks that were presented, and it appears they were not able to effectively identify and notify investors of what was truly happening. This is one of the areas that has to be addressed in future years to help to keep this type of scenario from happening again. Another important factor that began this downfall was President Bush’s declaration of war on Iraq. Military funding immediately increased and has continued since the war began. While being seen as a global superpower is a privilege, doing so in a continual nature significantly affects the economy only growing the $18 trillion in debt. While increased military spending initially impacted the economy in a positive manner, the continued increase in spending could not be maintained only adding to the factors contributing to the financial crisis (Payne, 2013). The Global Response Overall the global response was significant. Banks began to refuse lending to construction developers. Manufacturing and trade slowed down considerably. Global trade declined to levels that were equitable to 2005 levels. This drop off took place rapidly and fell 4 almost 17% between September 2008 and February 2009. Global economic activity also declined in a very short time period. Output levels fell by 1.2% in the fourth quarter of 2008 and by 1.4% in the first quarter of 2009. To combat this significant downturn in the economy, the U.S. implemented a $787­ billion­dollar stimulus package to keep the banks from collapsing and a second Great Depression from taking place (Cracuin and Ochea, M.V., 2014). This stimulus plan may be the one major factor that kept the U.S. out of the next Great Depression. While the UK attempted to implement a more conservative approach by not allowing the GDP to increase past 60%, this was noted as the one thing that slowed their regrowth. To take this discussion a bit further, it was not only the the increase of monetary funding that needed to increase but also a change to fiscal policy by temporarily increasing demand. It is noted that both points need to be incorporated to recover the economy (Elson, 2015). An example of what would happen if both pieces are not incorporated is if the government would have issued the funding for the bailout and consumers became too afraid to spend their money. Without the spending, people would effectively hold onto the money which would only increase the government’s debt. Without both pieces to the puzzle, recovery would be slowed and the situation gets worse. This lesson was learned from the Great Depression in 1930. By learning from past mistakes, the U.S. managed to pull out of this financial crisis, only losing a portion of the market share. Other nations also began to implement stimulus packages following the lead of the U.S. Germany began to implement the stimulus package which ended up causing issues in other countries that utilized the Euro which again had a negative impact in countries such as Greece, Portugal and France. The impacts continued to roll downhill as the crisis worsened. One major 5 factor that each county’s government needs to pay close attention to is the impact that they can have on the welfare of other’s countries. Without being cognizant of the impact one nation could have, that nation could potentially affect the downfall of another country. While each country needs to place appropriate fiscal plans into motion as well as plan and monitor for for risk, a potential financial crisis could be avoided. The Impact, Outcomes, and Results Due to the size of the United States and the size of the market it holds, the impact was significant. It caused shifts in markets around the world. The number of homes that were foreclosed equated to one out of every 45 homes, an approximation of 3 million homes by 2010. Housing prices declined and over 1 million lost their homes by 2010 (Payne, 2013). According to Cracuin and Ochea, M.V., (2014) it caused imbalances in other countries. One of the major areas of concern was the decline in global trade. The level of trade in goods dropped approximately 17% between September 2008 and February 2009. In 2008’s fourth quarter the global economic activity fell 1.2% and 1.4% in the 1 quarter of 2009. In addition, foreign investors limited their investments in the U.S. to limit their risk. The markets of Asia, Latin America, and the Baltic’s countries also began a downturn and negative GDP. These were not the only countries affected. The other countries affected were the Czech Republic, Hungary, Bulgaria, and Romania. Not only were countries affected, but large financial institutions collapsed, government bailouts began to take place, and food shortages in developing countries became prevalent. On the other side of the crisis, several countries actually benefited from the financial crisis. Rao and Reddy (2015) noted that while the negatively affected countries were developed 6 countries, there were several others that were positively affected. The countries in particular that benefited from this crisis were known as BRIC, Brazil, Russia, India, and China (Payne, 2013). Each of these countries had positive impacts due to their implemented policies that were quite the opposite of that of the U.S. As the U.S. began to decline in power while China began to gain power. They had significant savings ended doing significantly better than those with little savings. Conclusion The purpose of this week’s assignment is to critically evaluate the global financial crisis. The global financial crisis took place in 2008 to 2009 and started with a large number of factors. While this paper discusses a portion of these factors, the one that stands out points directly to the human factor and the associated greed. This greed that began with the housing market, subsequently involved subprime lending that took place, and President Bush’s need to go to war, are noted as only a few of the major factors playing into the recession. The United States has such a large market that any major impact to the economy will have a domino effect. This domino affect led a number of other major markets into significant financial difficulties, decreased overall global trade, and allowed a number of other countries to acquire the shifted power. In addition to the overall discussion of the 2008­2009 financial crisis, the following areas will be discussed: 1) Causes and Explanation, 2) The Impact, Outcomes, and Results, and 3) The Global Response. 7 References Cracuin, L. & Ochea, M.V. (2014). The dimensions of the global financial crisis. Theoretical & Applied Economics, 21(1), 121­130. Doogar, R., Rowe, S. P., & Sivadasan, P. (2015). Asleep at the wheel (again) Bank audits during the lead­up to the financial crisis. Contemporary Accounting Research, 32(1), 358­391. doi:10.1111/1911­3846.12101 Elson, A. (2015). What Have We learned from the global financial crisis of 2008­09 and its aftermath World Economics, 16(2), 23­46. Payne, R. J. (2013) Global issues. New Jersey: Pearson Education, Inc. Rao, N., & Reddy, K. (2015). The impact of the global financial crisis on cross­border mergers and acquisitions: a continental and industry analysis. Eurasian Business Review, 5(2), 309­341. doi:10.1007/s40821­015­0028­y NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Student: THIS FORM MUST BE COMPLETELY FILLED IN Follow these procedures: If requested by your instructor, please include an assignment cover sheet. This will become the first page of your assignment. In addition, your assignment header should include your last name, first initial, course code, dash, and assignment number. This should be left justified, with the page number right justified. For example: Save a copy of your assignments: You may need to re­submit an assignment at your instructor’s request. Make sure you save your files in accessible location. Academic integrity: All work submitted in each course must be your own original work. This includes all assignments, exams, term papers, and other projects required by your instructor. Knowingly submitting another person’s work as your own, without properly citing the source of the work, is considered plagiarism. This will result in an unsatisfactory grade for the work submitted or for the entire course. It may also result in academic dismissal from the University. IB7002­8 Isabel Wan, PhD International Business Assignment 2 Faculty Use Only 2 Introduction The purpose of this week’s assignment is to critically evaluate the global financial crisis. The global financial crisis took place in 2008 to 2009 and started with a large number of factors. While this paper discusses a portion of these factors, the one that stands out points directly to the human factor and the associated greed. This greed that began with the housing market, subsequently involved subprime lending that took place, and President Bush’s need to go to war, are noted as only a few of the major factors playing into the recession. The United States has such a large market that any major impact to the economy will have a domino effect. This domino affect led a number of other major markets into significant financial difficulties, decreased overall global trade, and allowed a number of other countries to acquire the shifted power. In addition to the overall discussion of the 2008­2009 financial crisis, the following areas will be discussed: 1) Causes and Explanation, 2) The Impact, Outcomes, and Results, and 3) The Global Response. Causes and Explanation Payne (2013) goes into great detail about the potential causes of the global financial crisis. He references the fact that it is difficult to specifically point at exact reasons for crisis, but he states that there are a number that are talked about most frequently. The six areas Payne discusses that are listed as probable causes are as follows: “(1) deregulation of financial markets; (2) sophisticated financial innovations linked to rapid changes in computer technologies; (3) excessive executive compensation; (4) low interest rates; (5) subprime loans, especially for mortgages; and (6) speculation in general, with an emphasis on speculation in housing”. Just looking at the list of items, it could have been any number of things or a combination of any 3 number of the items identified above. One of the main points to recognize factors that is for certain is that humans were involved and well as their associated greed. Those two factors alone can and do cause any number of issues. After this financial crisis began its downward spiral, blame began to be thrown anywhere it would stick. As with any controversy, anyone involved or that touched the issue at hand would face possible blame. In this article, the auditors were noted as part of the problem. Doogar, Rowe, and Sivadasan (2015) question the auditors that were to be the eyes and ears of the financial system. They were to respond to the risks that were presented, and it appears they were not able to effectively identify and notify investors of what was truly happening. This is one of the areas that has to be addressed in future years to help to keep this type of scenario from happening again. Another important factor that began this downfall was President Bush’s declaration of war on Iraq. Military funding immediately increased and has continued since the war began. While being seen as a global superpower is a privilege, doing so in a continual nature significantly affects the economy only growing the $18 trillion in debt. While increased military spending initially impacted the economy in a positive manner, the continued increase in spending could not be maintained only adding to the factors contributing to the financial crisis (Payne, 2013). The Global Response Overall the global response was significant. Banks began to refuse lending to construction developers. Manufacturing and trade slowed down considerably. Global trade declined to levels that were equitable to 2005 levels. This drop off took place rapidly and fell 4 almost 17% between September 2008 and February 2009. Global economic activity also declined in a very short time period. Output levels fell by 1.2% in the fourth quarter of 2008 and by 1.4% in the first quarter of 2009. To combat this significant downturn in the economy, the U.S. implemented a $787­ billion­dollar stimulus package to keep the banks from collapsing and a second Great Depression from taking place (Cracuin and Ochea, M.V., 2014). This stimulus plan may be the one major factor that kept the U.S. out of the next Great Depression. While the UK attempted to implement a more conservative approach by not allowing the GDP to increase past 60%, this was noted as the one thing that slowed their regrowth. To take this discussion a bit further, it was not only the the increase of monetary funding that needed to increase but also a change to fiscal policy by temporarily increasing demand. It is noted that both points need to be incorporated to recover the economy (Elson, 2015). An example of what would happen if both pieces are not incorporated is if the government would have issued the funding for the bailout and consumers became too afraid to spend their money. Without the spending, people would effectively hold onto the money which would only increase the government’s debt. Without both pieces to the puzzle, recovery would be slowed and the situation gets worse. This lesson was learned from the Great Depression in 1930. By learning from past mistakes, the U.S. managed to pull out of this financial crisis, only losing a portion of the market share. Other nations also began to implement stimulus packages following the lead of the U.S. Germany began to implement the stimulus package which ended up causing issues in other countries that utilized the Euro which again had a negative impact in countries such as Greece, Portugal and France. The impacts continued to roll downhill as the crisis worsened. One major 5 factor that each county’s government needs to pay close attention to is the impact that they can have on the welfare of other’s countries. Without being cognizant of the impact one nation could have, that nation could potentially affect the downfall of another country. While each country needs to place appropriate fiscal plans into motion as well as plan and monitor for for risk, a potential financial crisis could be avoided. The Impact, Outcomes, and Results Due to the size of the United States and the size of the market it holds, the impact was significant. It caused shifts in markets around the world. The number of homes that were foreclosed equated to one out of every 45 homes, an approximation of 3 million homes by 2010. Housing prices declined and over 1 million lost their homes by 2010 (Payne, 2013). According to Cracuin and Ochea, M.V., (2014) it caused imbalances in other countries. One of the major areas of concern was the decline in global trade. The level of trade in goods dropped approximately 17% between September 2008 and February 2009. In 2008’s fourth quarter the global economic activity fell 1.2% and 1.4% in the 1 quarter of 2009. In addition, foreign investors limited their investments in the U.S. to limit their risk. The markets of Asia, Latin America, and the Baltic’s countries also began a downturn and negative GDP. These were not the only countries affected. The other countries affected were the Czech Republic, Hungary, Bulgaria, and Romania. Not only were countries affected, but large financial institutions collapsed, government bailouts began to take place, and food shortages in developing countries became prevalent. On the other side of the crisis, several countries actually benefited from the financial crisis. Rao and Reddy (2015) noted that while the negatively affected countries were developed 6 countries, there were several others that were positively affected. The countries in particular that benefited from this crisis were known as BRIC, Brazil, Russia, India, and China (Payne, 2013). Each of these countries had positive impacts due to their implemented policies that were quite the opposite of that of the U.S. As the U.S. began to decline in power while China began to gain power. They had significant savings ended doing significantly better than those with little savings. Conclusion The purpose of this week’s assignment is to critically evaluate the global financial crisis. The global financial crisis took place in 2008 to 2009 and started with a large number of factors. While this paper discusses a portion of these factors, the one that stands out points directly to the human factor and the associated greed. This greed that began with the housing market, subsequently involved subprime lending that took place, and President Bush’s need to go to war, are noted as only a few of the major factors playing into the recession. The United States has such a large market that any major impact to the economy will have a domino effect. This domino affect led a number of other major markets into significant financial difficulties, decreased overall global trade, and allowed a number of other countries to acquire the shifted power. In addition to the overall discussion of the 2008­2009 financial crisis, the following areas will be discussed: 1) Causes and Explanation, 2) The Impact, Outcomes, and Results, and 3) The Global Response. 7 References Cracuin, L. & Ochea, M.V. (2014). The dimensions of the global financial crisis. Theoretical & Applied Economics, 21(1), 121­130. Doogar, R., Rowe, S. P., & Sivadasan, P. (2015). Asleep at the wheel (again) Bank audits during the lead­up to the financial crisis. Contemporary Accounting Research, 32(1), 358­391. doi:10.1111/1911­3846.12101 Elson, A. (2015). What Have We learned from the global financial crisis of 2008­09 and its aftermath World Economics, 16(2), 23­46. Payne, R. J. (2013) Global issues. New Jersey: Pearson Education, Inc. Rao, N., & Reddy, K. (2015). The impact of the global financial crisis on cross­border mergers and acquisitions: a continental and industry analysis. Eurasian Business Review, 5(2), 309­341. doi:10.1007/s40821­015­0028­y

Step 2 of 3

Chapter 9.4, Problem 9E is Solved
Step 3 of 3

Textbook: Fundamentals of Differential Equations
Edition: 8
Author: R. Kent Nagle, Edward B. Saff, Arthur David Snider
ISBN: 9780321747730

The answer to “In 9–12, write the given system as a set of scalar equations.” is broken down into a number of easy to follow steps, and 12 words. The full step-by-step solution to problem: 9E from chapter: 9.4 was answered by , our top Calculus solution expert on 07/11/17, 04:37AM. Fundamentals of Differential Equations was written by and is associated to the ISBN: 9780321747730. Since the solution to 9E from 9.4 chapter was answered, more than 294 students have viewed the full step-by-step answer. This full solution covers the following key subjects: equations, given, scalar, set, system. This expansive textbook survival guide covers 67 chapters, and 2118 solutions. This textbook survival guide was created for the textbook: Fundamentals of Differential Equations , edition: 8.

Other solutions

People also purchased

Related chapters

Unlock Textbook Solution

Enter your email below to unlock your verified solution to:

In 9–12, write the given system as a set of scalar