The income arising from investments and possessions owned abroad is not included. Total market value of all final goods and services produced by an economy during a year. The main business of the IMF is the provision of loans to its members when they experience balance of payments difficulties. These loans often carry conditions that require substantial internal economic adjustments by the recipients. A pattern of economic development encouraging the local production of previously imported manufactured goods.
Governments typically institute high tariffs to protect the infant domestic industries.
Employed widely in Latin America in the wake of disruption of trading patterns during World War I and the Great Depression. Members of CEBS meet in small groups to reflect on scripture and discuss its meaning in their lives. They are introduced to a radical interpretation of the Bible, one that employs Marxist terminology to analyze and condemn the wide disparities between the wealthy elite and the impoverished masses in most underdeveloped countries. This reflection often leads members to organize to improve their living standards through cooperatives and civic improvement projects. The process by which the central bank buys or sells securities in the open market to control monetary growth or interest rates.