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International Monetary Fund:
The International Monetary Fund (IMF), the World Bank and the International Trade Organisation were conceived at the Brettonwoods Conference in July, 1944 as institutions to strengthen international economic cooperation and to help create a more stable and prosperous global economy. While the IMF and the World Bank came into existence and started functioning from 1946, the International Trade Organisation could not be set up. Instead, the General Agreement on Tariffs and Trade (GATT) was set up in 1947. Through successive rounds of negotiations, the GATT got transformed into what has come to be known as the World Trade Organisation (WTO) that started functioning from January 1, 1995. The various institutions have been set up to govern international economic relations. While all the institutions work in close coordination with each other, each of these institutions has its own specific area of responsibilities. The IMF promotes international monetary cooperation and provides member countries with policy advice, temporary loans, and technical assistance so they can establish and maintain financial stability and external viability and build and maintain strong economies. The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support. The WTO seeks to achieve the same objective by providing a trade environment in which goods and services may move between the nations, unrestrained by any restrictions or barriers. On a little regional level also international organisations have been set up. Among these, the most important for us has been the Asian Development Bank.
Advantages of Division of labour: Division of labour has advantages including the following: Development of Greater Skill by the Worker In division of labour, each
Why is the concept of scarcity relevant to both LDC s and MDC s? All societies throughout time have wrestled with the basic economic conundrum of having needs that cannot be me
Ask question #Minimum 100 areanycurrentsubsidyorwelfareissueddiscussedoraddressedinparliamentwords accepted#
MRP Technique - Estimating the Level of Output for the Target Year Taking into account several parameters of economic growth such as past trends, present as well as proposed
V alue Additivity In an efficient market the value of any 2 assets can be estimated as the sum of the values of the two individual assets. This is a variation on the theme
A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas
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Q. What do you mean by Bond? Bond: A financial security that represents promise of its issuer (generally a company or a government) to repay a loan over a specified time period
Separate Administrative Set-up for Exports: It may be worth examining the setting up of Foreign Trade Board, similar to what obtains in Japan (JETRO) and South Korea (KETRO)
explain what will happen to price , the marginal cost of rice, and the quantity produced if the government sets a production quota of 2000 bags a week. draw a graph and explain you
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