Which of the following statements is true about terms of trade?

a

Terms of trade shows the difference between the values of export and imports

b

Terms of trade indicate the rate at which exports exchange for imports

c

It is the ration of price index of exports to imports

d

It is usually expressed as percentage

e

A rise in the price of export relative to imports is an improvement

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Morex002
6 years ago

Everything is true... maybe apart from A
According to essential textbook

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