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A.
\(\frac{\text{Index of import prices}}{\text{Index of export prices}}\) x 100
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B.
\(\frac{\text{Index of exportable}}{\text{Index of importable}}\) x 100
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C.
\(\frac{\text{Index of visible imports}}{\text{Index of visible exports}}\) x 100
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D.
\(\frac{\text{Index of export prices}}{\text{Index of import prices}}\) x 100
Correct Answer: Option D
Explanation
Terms of trade (TOT) refers to the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices.
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