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Specific Purpose: To demonstrate to my audience how to wrap a present.
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The first essay (Chapter 2) highlights the positive effect of banks on direct financing in a setting where each agent believes that she can evaluate information better than any other agent. Banks emerge endogenously and they encourage direct financing through the use of underwriting and liquidity (reserve) requirements. Banks sell underwriting contracts to investors who wish to invest directly.
Writing a Conclusion. It’s important to write a good introduction. It’s important to keep things organized in the main body of your writing. And it’s important to write a good conclusion. In a nonfiction piece, the purpose of a conclusion is to tie things up, summarize what has been said, and reinforce the main idea.