Problems with a Jumpy Dog and other Dog Issues?

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We have a dog that loves to jump up to greet you all the time, he does it out of excitement but it can actually be harmful if it's towards an elderly person or a small child who could fall over easily. My boyfriend and I watched a show on TV this morning where a veterinarian was visiting houses and helping owners to solve common dog problems, jumping up was one of them. Well his solution was that every time your dog jumps up on you, you need to simply turn your back away from him, cross your arms and stand there for a few seconds. Then you tell the dog to sit and you come down to his level to greet him. Often dogs jump up just because they want you to come to their level, they also see it as a nice greet when you touch noses with them as a greeting. Does your dog jump up? If so, how do you go about stopping it. What other common problems have you witnessed by dogs and how have you gone about solving it?