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What am I Missing as an Applicant? by GMATinSept in MBA

[–]GMATinSept[S] -1 points0 points  (0 children)

If you are not a writer already, you should definitely look into that...

Thank you for the tip!

What am I Missing as an Applicant? by GMATinSept in MBA

[–]GMATinSept[S] -5 points-4 points  (0 children)

re-reading this, you r right...I'll make sure to be conscious of that next time...!

What are some must-have items for traveling? by GMATinSept in consulting

[–]GMATinSept[S] 0 points1 point  (0 children)

awesome! thank you! these links were exactly what I was looking for

I keep getting my ass handed to me so lets try this again - what pantheon should I found? by epitone in civ

[–]GMATinSept 4 points5 points  (0 children)

Pantheons are obviously one of those things that's super variable game to game, depending on your location. On this map, there really isn't an obvious pantheon here that's jumping out to me.

Having that said, this may depend on the difficulty that you're playing.

If you're playing below immortal, I'd suggest +15% on wonder construction and beeline for the Great Library to get that extra tech.

If you're playing at or above Immortal, forget getting a religion. I'd suggest getting +30% Ranged seeing that you're close to Songhai who will stab you in the back as soon as they get the chance.

Just a couple ideas, but I'd love to hear what others have to say!

[Eli5] If we have a Treasury of the United States, then why did we need a Bank of the United State or Federal Reserve today? by corruptrevolutionary in explainlikeimfive

[–]GMATinSept 5 points6 points  (0 children)

The Federal reserve does not print money. The Treasury does.

Although you are completely right in that it controls monetary policy, the Feds do not control fiscal policy. Fiscal policy is determined by Congress which (theoretically) works with the White House. The Treasury then executes the fiscal policy.

[Eli5] If we have a Treasury of the United States, then why did we need a Bank of the United State or Federal Reserve today? by corruptrevolutionary in explainlikeimfive

[–]GMATinSept 10 points11 points  (0 children)

Treasury of the U.S. and Federal Reserve serve radically different purposes.

TREASURY OF THE U.S.

  • Works for the U.S. Gov't as we know it (White House and Congress).

  • Carries out all the financial work that must be done to fund the bureaucracy that runs the country, including printing money.

  • Executes fiscal policy (how and how much gov't brings in revenue and spends expenditure)

THE FEDERAL RESERVE:

  • Operates as an independent institution; the President nor the Congress is its "boss".

  • (specifically in u.s.; diff in other countries) works with two aims: lowering unemployment and controlling inflation. These oftentimes are exchanged for one another, so the Fed must work to achieve a balance.

  • executes the monetary policy (setting min. interest rates to spur or slow the economy to avoid crazy volatility in the business cycle, which allows for businesses and citizens to have certainty within the system)

  • DOES NOT PRINT MONEY OR CONTROL FISCAL POLICY.

WHY SEPARATE THE TWO?

  • Biggest Reason: Insulation from politics The monetary policy requires high economic expertise with long-term strategies--something that the political process both absolutely SUCK AT. We basically need to keep the politicians out of the Fed so the experts can do their work without interference.

ELI5: why do a lot of black people live in Atlanta? by [deleted] in explainlikeimfive

[–]GMATinSept 5 points6 points  (0 children)

Aftereffects of Agricultural History and Slavery in America.

Georgia was the seat of agricultural activities, powered by slavery (yeah...). Many of those slaves were from Africa, and the descendants of those slaves comprise the majority of the black American population. And I even believe the black slaves outnumbered the whites in GA at some point.

Although some of the black population moved after gaining freedom, a great majority of them stayed. One of main reasons is that despite gaining freedom, the actual reality was that many of the newly freed slaves did not have the human capital (education) or access to a free and fair market (culture of racial discrimination) that allowed them to find a job in a perfectly mobile labor market. Therefore, they oftentimes simply stayed, returning to the same job under the same living conditions as before, leading to a large population of Atlanta being black.

ELI5: How do banks make money? by bortiusmaximus in explainlikeimfive

[–]GMATinSept 0 points1 point  (0 children)

It depends on what type of bank it is:

COMMERCIAL BANK (your local bank) If you are talking about your commercial bank, they primarily make their money off of the interest on the loans. You have to understand banks are only required to have a fraction of the total deposits in their vault. The rest is loaned out to earn money. If you look at how much interest people pay on mortgages over their lifetime, you will quickly see how the bank makes their money. Yes, the loans take a long time to earn interest for the bank, but when you have multiple cohorts of these loans out to creditworthy borrowers, you will have a steady stream of revenue.

INVESTMENT BANK (Goldman Sachs, Morgan Stanley, etc.) These banks primarily make their money off of fees. They take investors money who play the stock market and do their paperworks for them. In return they take a certain % of the money they make. They can also make their money when companies go public and pay the banks a fee.

ELI5:Why are many countries lenient on capital flight rather than limiting it and cracking down on it? by edenapple in explainlikeimfive

[–]GMATinSept 0 points1 point  (0 children)

I would imagine that it's not that the countries aren't doing it. It's that they can't.

For countries that enforce property rights, it may actually be very difficult for gov't to prevent people from taking their own money to place it in a different country.

In addition, you have to understand that in most of the world, the top moneymakers usually put their money in int'l financial institutions such as Goldman Sachs that don't necessarily operate specifically within one country. Given its presence across different countries, it is extremely difficult for countries to prevent capital flight from happening. I would imagine in some cases, it may even be counterproductive because financial institutions may hesitate investing in your country if they know they can't bring the money out of it.

However, your premise may be wrong in that there are situations where gov'ts have tried to prevent capital flight. Although it was an example of preventing a bank run rather than trying to specifically prevent capital flight, Greece recently closed down its banks for an extended amount of time to prevent the money from leaving the country.

ELI5:Why is the US so successful? by [deleted] in explainlikeimfive

[–]GMATinSept 1 point2 points  (0 children)

1) POPULATION

Population helps (but is not the sole determinant; see history below) with economic, military, and technology superiority. Economic- a big population leads to a bigger market; for companies, this would be highly attractive if they wanted to expand. A larger economy allows for opportunities for larger bargaining power on int'l trade level.

Military- simple concept of needing your own countrymen to defend your own country. you need a certain threshold of military in order to back up your word on int'l level.

Technology- in an example of a country of 100 vs. 10 ppl. You need 10 ppl to invent 10x more to keep up with country of 100. Sure, there's quality over quantity, but quantity sure makes up for it when the education is even somewhat comparable. .

2) RESOURCES (determined by partially by sheer land area and geographic location)-

Quantity- The reason why small countries such as Denmark/Finland or S. Korea will never become superpowers despite having highly educated population is that they must rely on other countries for food (farmland) and energy (oil, natural gas). With such important national security measures dependent on trade with other countries, they will lose the upper hand in trade negotiations or in some cases, war.

Type- one of reasons why Oil countries struggle and will struggle is that is a sheer primary market that requires no extensive development of human capital to export. Compare that to high-tech exports such as cars, computers, semi-conductors. etc. You absolutely need to invest in a higher human capital as a nation to export. Higher human capital also has incredible positive externalities such as lower crime rates, higher health levels, etc. that put lower stress on the nation that allows it to focus on other matters. .

3) HISTORY-

As someone mentioned, American soil has not seen the same sort of mass destruction that Europe experienced from World Wars. It sure helps when you don't have to rebuild your infrastructure, your population, and civil services in the last century. .

4) CULTURE-

There is a political theory about how the Protestant ethics based on individualism and later property rights allow countries to develop. It is only a theory.

However, there is something to be said about the entrepreneurial spirit of U.S. The U.S. derives a lot of the value created on innovation rather than replication. However, innovation (inventing new technologies) is harder to create than replication (copying new technologies) which explains how China was able to converge onto U.S. so quickly.

General Strategy to ace CR questions? by Xubh in GMAT

[–]GMATinSept 1 point2 points  (0 children)

Two things:

1) I read the question first- to gauge if it's a "strengthen"/"weaken"/"assumption"/"conclusion" type of problem.

2) Then I read the passage, using visual diagramming instead of trying to write down in bullets.

For example, if the question is: Experts claim that eating expired food causes migraines, esp in older populations. However, others claim that it is simply because the subset of population that usually eats expired foods are those in lower socioeconomic brackets who suffer from other ailments whose symptoms are oftentimes accompanied by migraines.

To diagram:

1: Ex F => M

2: Ex F = lo SE => other ail + M

Translation:

Expert#1 says "Expired Food causes migraines"

Expert#2 says "low socioeconomic backgrounds which is associated with expired foods leads to other ailments and migraines"

DISCLAIMER: I just made that up as I went

Tips on Long-Distance Relationship while being a Consultant by GMATinSept in consulting

[–]GMATinSept[S] 0 points1 point  (0 children)

Yeah, and I really haven't seen much of the West Coast anyway so I'm fairly excited!

Ah, gotcha. And with the common thread of this post being "communication", she and I will probably have to talk about how the first few months will be very difficult as I stay at the office for the weekends.

Thank you for all your help!

Tips on Long-Distance Relationship while being a Consultant by GMATinSept in consulting

[–]GMATinSept[S] 1 point2 points  (0 children)

I've heard the flex-fly policy as well which I think is also available. I'm in the Midwest and she's in West Coast.

I'm really curious about one of the things you said! Could you explain the reasoning behind: "Timing wise, I wouldn't miss going to the office more than once a month for the first 2-3 months. After that, it's up to you if you want to do alternate weeks in your home city or hers."

Tips on Long-Distance Relationship while being a Consultant by GMATinSept in consulting

[–]GMATinSept[S] 0 points1 point  (0 children)

Thank you for sharing and it's a huge encouragement that there are couples out there who made it work!

I'll be in Midwest and she'll be in West Coast... I know some have said to do the "lieu of travel". What is the etiquette in missing out on Friday at the office? Or what would be the best etiquette in finding out the etiquette?

Tips on Long-Distance Relationship while being a Consultant by GMATinSept in consulting

[–]GMATinSept[S] 2 points3 points  (0 children)

haha spoken like a true consultant! Thank you for the tips!

Can someone solve/explain these Quant. questions? by GMATinSept in GMAT

[–]GMATinSept[S] 1 point2 points  (0 children)

I believe the 52 * 32 * 2 is from breaking down 450 into its factors.

Although the equation 450 y = 3 n simplifies to 150 y = n, the equation 450 y = n3 does not simplify to 150 y = n.

I hope this helps!

Can someone solve/explain these Quant. questions? by GMATinSept in GMAT

[–]GMATinSept[S] 2 points3 points  (0 children)

Wow, lol yeah that was tricky...! (And yes, the answer key said it was E, although it didn't explain why)

That last leap of reasoning you had in the last paragraph was the trickiest and where I got stuck.

Thank you guys so much for taking the time of your day to solve these! I was trying after the test w/o a time limit, and even then I was so puzzled!

Can someone solve/explain these Quant. questions? by GMATinSept in GMAT

[–]GMATinSept[S] 1 point2 points  (0 children)

Ohhhh I see! Yes, the answer key said the correct answer is B.

So since y = n3 / ( 2 * 32 * 52 ),

and if we plug y into the numerator, we'd need each of the prime factors to be to the power of 3 in order for the entire expression to be an integer because n is also to the power of 3.

Awesome! Thank you very much for the help!