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GDP per capita
The value of final goods produced (GDP) divided by the total population.
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Industrially advanced countries (IACs)
High-income nations that have market economies based on large stock of technologically advanced capital and well-educated labor. The United Stated, Canada, Autralia, New Zealand, Japan, and most of the countries of Western Europe are IACs
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Less-developed countries (LDCs)
Nations without large stocks of technologically advanced capital and well-educated labor. LDCs are economies based on agriculture, such as most contries of Africa, Asia, and Latin America.
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Vicious circle of poverty
The trap in wich countries are poor bacause they cannot afford to save and invest, but they cannot can save and invest bacause they are poor.
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Infrastructure
Capital goods usually provided by the goverment,including highways, bridges, waste and water system, and airports.
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Foreing aid
The transfer of money or resources from one goverment to another for wich no repayment is requiered
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Aggency for International Development (AID)
The agency of the U.S. State Department that is in charge of U.S. aid to foreign countries.
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World Bank
The lending agency that makes long-term, low-interes loans and provides technical assistance to less-developed countries.
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International Monetary Found (IMF)
The lending agency that makes short-term conditional low-interest loans to developing countries.
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