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What is the World Bank and What Does it Do?

Anyone who watches the news is sure to have heard about the World Bank, but there may be some uncertainty as to what this institution actually is. Confusion about the World Bank is understandable as it is unlike any other bank people will be familiar with. In fact many would argue that it isn’t even a bank at all and more an agency that specializes in providing leveraged loans.

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Some very interesting Economic information graphics

Visualizing Economics:

  • How can you measure a nation’s wealth?
  • How much do you earn?
  • How rich is the United States?

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Heat Map of Worldwide GDP Real Growth Rate 2007

Heat Map of Worldwide GDP Real Growth Rate 2007

Data source: 2007 CIA World Fact Book

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Heat Map of Worldwide GDP (PPP) Per Capita 2008

Heat Map of Worldwide GDP (PPP) Per Capita 2008

Data source: 2008 CIA World Fact Book

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2007 GDP Nominal Per Capita World Map (IMF)

2007 GDP Nominal Per Capita World Map

Data source: International Monetary Fund

2007 GDP Nominal Per Capita World Map (IMF)

Current GDP, GNP of United States and other countries

As of the most up to date data from authoritative sources such as International Monetary Fund, World Bank and CIA World Fact Book, below is the worldwide nations ranked by GDP. United States is ranked second immediately after EU with a GDP of more than 13,000 billions in 2007. Read the rest of this entry »

What are the Causes of Economic Recession

What is an economic recession?

In a perspective as broad as nation wide, or macroeconomically, a recession is a slightly obvious decline in Gross Domestic Product (GDP, just think of it as the total wealth or wellness all people within a nation produce within a given year) compared to previous quaters, or in a business cycle. A decline is only regarded as a recession if it has lasted more than 2 quarters. Also, the decline should not be too apparent as to be an economic depression (approx. 10% drop of GDP) or even more devastating as to be a economic collapse.

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