The prices of a country's exports relative to its imports are known as the _________.
A) trade balance
B) equity of trade
C) terms of trade
D) trade level

Question

Quizplus · Accepted Answer

The prices of a country's exports relative to its imports are known as the terms of trade. It is the ratio between a country's export prices and its import prices, and it indicates how many of its imports an economy can get for a unit of its exports. It is an important economic indicator that reflects a country's economic strength and competitiveness.

The Prices of a Country's Exports Relative to Its Imports