Single stage to orbit/SDIO

This paper included a discussion of the United States' need for a launch system that demonstrates both high capacity and low cost. Current systems, which typically require two years' lead time to provide on-orbit service to space platforms, are too inflexible for many missions. A system is needed that is able to operate in much the same way as existing commercial aircraft. The SSTO program is focused on satisfying aircraft-like operations and logistics support requirements such as engine-out intact abort capability and seven-day, 350-man-day vehicle turnaround times

Were Japanese Stock Prices Too High?

The difference between reported price-earnings ratios in the United States and Japan is not as puzzling as it appears at first glance. Nearly half the disparity is caused by differences in accounting practices with respect to consolidation of earnings from subsidiaries and depreciation of fixed assets. If Japanese firms used U.S. accounting rules, we estimate that the P/E ratio for the Tokyo Stock Exchange would have been 32.1, not the reported 54.3, at the end of 1988. Accounting differences are unable, however, to explain the sharp rise in the Japanese stock market during the mid-1980s. Changes in required returns on equities, or in investor expectations of future growth for Japanese firms, must be invoked to explain this phenomenon. Real interest rates declined during the period of rapid price increase, but there is little evidence that growth expectations became more optimistic. The real interest rate changes do not, however, appear large enough to fully account for the change in stock prices.

The minimum wage and restaurant prices

Using both store-level and aggregated price data from the food away from home component of the Consumer Price Index survey, we show that restaurant prices rise in response to an increase in the minimum wage. These results hold up when using several different sources of variation in the data. We interpret these findings within a model of employment determination. The model implies that minimum wage hikes cause employment to fall and prices to rise if labor markets are competitive but potentially cause employment to rise and prices to fall if labor markets are monopsonistic. Therefore, our empirical results appear to provide evidence against the hypothesis that monopsony power is important for understanding the small observed employment responses to minimum wage changes.Labor market ; Wages ; Wages - Restaurants

Jet pump-drive system for heat removal

The invention does away with the necessity of moving parts such as a check valve in a nuclear reactor cooling system. Instead, a jet pump, in combination with a TEMP, is employed to assure safe cooling of a nuclear reactor after shutdown. A main flow exists for a reactor coolant. A point of withdrawal is provided for a secondary flow. A TEMP, responsive to the heat from said coolant in the secondary flow path, automatically pumps said withdrawn coolant to a higher pressure and thus higher velocity compared to the main flow. The high velocity coolant is applied as a driver flow for the jet pump which has a main flow chamber located in the main flow circulation pump. Upon nuclear shutdown and loss of power for the main reactor pumping system, the TEMP/jet pump combination continues to boost the coolant flow in the direction it is already circulating. During the decay time for the nuclear reactor, the jet pump keeps running until the coolant temperature drops to a lower and safe temperature where the heat is no longer a problem. At this lower temperature, the TEMP/jet pump combination ceases its circulation boosting operation. When the nuclear reactor is restarted and the coolant again exceeds the lower temperature setting, the TEMP/jet pump automatically resumes operation. The TEMP/jet pump combination is thus automatic, self-regulating and provides an emergency pumping system free of moving parts

First Report of the State Engineer of New Mexico

This report covers the periods: July 12, 1912 to December 1, 1912, December 1, 1912 to December 1, 1913, December 1, 1913 to December 1, 191

Sixth Biennial Report of the State Engineer and Surface Water Supply of New Mexico for the 11th and 12th Fiscal Years, December 1, 1922 to November 30, 1924

This report covers the activities of the State Engineer\u27s Office for the Sixth biennial Period ending November 30th, 1924