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bgloss.tex
V1 - 10/03/2012
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Page 735
Glossary of Key Terms
735
Interest arbitrage
The transfer of short-term liquid funds
abroad to earn a higher return.
Internal balance
The objective of full employment with price
stability; usually a nation’s most important economic objective.
Internal factor mobility
The movement within a nation of fac-
tors of production from areas and industries of lower earnings
to areas and industries of higher earnings.
International Bank for Reconstruction and Development
(IBRD or World Bank)
The international institution estab-
lished after World War II to provide long-run development
assistance to developing nations.
International cartel
An organization of suppliers of a com-
modity located in different nations (or a group of governments)
that agrees to restrict output and exports of the commodity with
the aim of maximizing or increasing the total profits of the
organization. An international cartel that behaves as a monop-
olist is called a centralized cartel.
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