Economics 9708 · AS & A Level · 6.3

6.3 — practice question

Which option most accurately describes a country’s terms of trade?

  • Athe difference between the volume of its exports and its imports
  • Bthe average price of its exports divided by the average price of its imports
  • Cthe total value of its exports divided by the total value of its imports
  • Dthe volume of its exports divided by the volume of its imports

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