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A country's terms of trade are said to improve when the ratio of her export

Commerce
JAMB 2013

A country's terms of trade are said to improve when the ratio of her export

  • A. decreases
  • B. remains constant
  • C. increases
  • D. equals import
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Correct Answer: Option C
Explanation

Terms of trade (TOT) represent the ratio between a country's export prices and its import prices.. It improves When the exports are higher than the imports. 

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