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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.
This is also known as sales force Opinion Method. In this method instead of consumers the opinion of the salesmen is sought. It is sometimes referred as the grassroots approach as
The prevention of major swings in economic activity can be handled most easily by the
What are the differences between the IS-LM model and the Keynesian model? The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium i
Consider a person''s decision problem in trying to decide how many children to have. Although she cares about children and would like to have as many as possible, she knows that ch
Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
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concepts of suply
Labour Extraction: Most employees under capitalism are paid according to time they spend at work. Though employers then face a challenge to extract genuine labour effort from their
Explain the effect of increased money supply on bond prices
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