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The rate at which a country's export is exchanged for her imports is

Economics
WAEC 2016

The rate at which a country's export is exchanged for her imports is

  • A. trade balance
  • B. balance of payment
  • C. term of trade
  • D. balance on current account
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Correct Answer: Option C
Explanation

Terms of trade, relationship between the prices at which a country sells its exports and the prices paid for its imports.

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