A measure of the total value of goods and services produced by the domestic economy during a given period, usually one year. The income arising from investments and possessions owned abroad is not included, only domestic production. Total market value of all final goods and services produced by an economy during a year. An economic development strategy that emphasizes the growth of domestic industries, often by import protection using tariff and nontariff measures.
Proponents favor the export of industrial goods over primary products.
These loans often carry conditions that require substantial internal economic adjustments by the recipients. The national currency. Because this rate overvalued the sucre and dampened exports, the government allowed a steady devaluation of the currency throughout the first half of the 1980s. In May 1989, Borja accelerated this program to nearly 40 percent per year. The terms of trade are said to move in favor of the party that gives up fewer units of goods than it did previously for one unit of goods received, and against the party that gives up more units of goods for one unit of goods received.