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Woodraw Wilson Was Referring to the Liberal Idea of the Economic

question 4

Multiple Choice

Woodraw Wilson was referring to the liberal idea of the economic market when he said that the free enterprise system is the most efficient economic system. Maximum freedom means maximum productiveness; our "openness" is to be the measure of our stability. Fascination with this ideal has made Americans defy the "Old World" categories of settled possessiveness versus unsettling deprivation., the cupidity of retention versus the cupidity of seizure, a "status quo" defended of attacked. The United States, it was believed, had no status quo ante. Our only "station" was the turning of a stationary wheel, spinning faster and faster. We did not base our system on property but opportunity-which meant we based it not on stability but on mobility. The more things changed, that is, the more rapidly the wheel turned, the steadier we would be. The conventional picture of class politics is composed of the Haves, who want a stability to keep what they have, and Have-Nots, who want a touch of instability and change in which to scramble for the things they have not. But Americans imagined a condition in which speculators, self-makers, runners are always using the new opportunities given by our land. These economic leaders (front-runners) would thus be mainly agents of Change. The nonstarters were considered the ones who wanted stability, a strong referee to give them some position in the race, a regulative hand to calm manic speculation; an authority that can call things to a half begin things again from compensatorily staggered "starting lines".:Reform" in America has been sterile because it can imagine no change except through the extension of this metaphor of the race, wider inclusion of competitors, "a piece of the action." As it were, of the disenfranchised. There is no attempt to call off the race. Since our only stability is change. America seems not to honor the quite work that achieves social interdependence and stability. There is, in our legends, no heroism of the office clerk, no stable industrial work force of the people who actually make the system work. There is no pride in being an employee (Wilson asked for a return to the time when everyone was an employer) . There has been no boasting about our social workers-they are need; empty boasts from the past make us ashamed of our present achievements, make us try to forget or deny the, move away from them. There is no honor but in the wonderland race we must all run, all trying to win, none winning in the end (for there is no end) . It can be inferred from the passage that Woodrow Wilson's idea's about the economic market

Familiarize with various employee benefits not covered by AASB 119/IAS 19.

Distinguish between accumulating and non-accumulating leave entitlements under AASB 119.

Understand the origin of actuarial gains or losses in defined benefit plans.

Describe characteristics of defined contribution plans and employer obligations.

Definitions:

Promissory Note

A legal financial obligation that includes a commitment by one party to remit a precise sum of money to another entity, triggered either upon request or on a certain future day.

Commercial Paper

A short-term, unsecured debt instrument issued by corporations to fund immediate needs.

Simple Interest

Interest assessed only on the starting principal, or on the remaining portion of the principal that is due.

Annual Rate

The interest rate for a period of one year, not accounting for compounding within that year.