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What Is the Meant by the Terms of Trade

Question 14

Multiple Choice

What is the meant by the terms of trade?


A) The ratio of the average price of exports to the average price of imports.
B) The ratio of the average value of imports to the average value of exports.
C) The ratio of the average volume of exports to the average volume of imports.
D) The ratio of the unit value of imports to the unit value of exports.

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