What term describes the average price of a country's exports compared with the price of its imports?

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The term that describes the average price of a country's exports compared with the price of its imports is the terms of trade. It is calculated by dividing the price index of a country's exports by the price index of its imports. A high terms of trade indicates that a country is able to buy more imports for each unit of its exports and is generally considered favorable for the country's economy.

What Term Describes the Average Price of a Country's Exports