Paper

India Thomas

5/12/2015

ECON 310-15-2A-01

Richard Fendler

Phase 1 Individual Project

World Bank- Known as the United Nations international financial institution that provides loans to developing countries for capital programs and is also a component of the World Bank Group and a member of the United Nations Development Group. Two ambitious goals as well as its mission statement are to end extreme poverty within a generation and boost shared prosperity. President Jim Kim plans to end poverty by 2030. www.coursecqatalog.edu

International Monetary Fund- (IMF) better known as the fund was conceived at a U.N conference in Bretton Woods, New Hampshire July 1944. The 44 countries that attended that conference agreed to build a framework for economic cooperation to avoid a repetition of the competitive e devaluations that contributed to the Great Depression in the 1930’s. www.worlddictionary.com The IMF main purpose is to ensure stability of the international monetary system. Membership now includes 188 countries with Washington D.C being the headquarter.

GDP Equation- y=C+I+E+G is the equation used to find the gross domestic product which is an aggravated measure of production equal to the sum of the gross values added of all residents, institutional units engaged in production as well as any taxes minus any subsidies on products not included in the value of their output. Y=GDP, C= consumer spending, I= investments made by industry, E= excess of exports over imports. The GDP can be determined in three ways which all should give the same result. They include the production approach, income approach, and the expenditure approach. The most direct of these three is the production approach which sums the output of every class of enterprise to arrive at the total.

Multinational Corporation- A multinational corporation is known to be the main actors driving economic globalization which thrives when market forces are de regulated allowing essential goods and services to...