Terms of trade refers to
A) the relative price at which trade occurs.
B) what goods are imported.
C) what goods are exported.
D) the volume of trade.
E) the tariffs applied to trade.

Question

Quizplus · Accepted Answer

Terms of trade refers to the relative price at which trade occurs, or the ratio between export prices and import prices. It reflects the competitiveness of a country's exports compared to its imports.

Terms of Trade Refers to