Multiple Choice
Which of the following is true of the terms of trade?
A) It is determined by supply and demand factors.
B) It is a legal limit on the amount of a commodity that can be imported.
C) It is determined by General Agreement on Tariffs and Trade.
D) It is independent of the negotiations between trading partners.
E) It is identical for all trading partners with differences in tastes.
Correct Answer:
Verified
Correct Answer:
Verified
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