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What Is the Definition of "The Terms of Trade

Question 125

Multiple Choice

What is the definition of "the terms of trade"?


A) It is the average price of a country's imports divided by the average price of its exports.
B) It is the average price of a country's exports divided by the average price of its imports.
C) They are the rules and regulations governing international trade.
D) The value of a country's currency compared to that of its biggest trading partner.

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