When there is improvement in a country's terms of tra...
When there is improvement in a country's terms of trade, it means that the country's
Exports are cheaper relative to imports
Imports are cheaper relative to exports
Volume of imports has declined
Volume of exports has declined
Correct answer is B
Terms of trade (TOT) represent the ratio between a country's export prices and its import prices. If a country's terms of trade improve, it means that for every unit of exports sold it can buy more units of imported goods.
Cost-push inflation is caused by? ...
In which of the following business units are the owners mostly customers? ...
Total fixed cost measures the cost of ...
Which of the following does not encourage the location of industries? ...
Fixing the prices of agricultural products can be a problem because of the ...
Open Market Operation (OMO) means the ...
Arrangement of wants in order of importance is brought about by ...
A shift of the demand curve to the right when the supply curve remains constant , implies that ...
One of the probable effects of an increased minimum wage in Nigeria is? ...
The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are ...