A country's terms of trade can be improved by________...
A country's terms of trade can be improved by________?
Revaluation of currency
Collective bargaining
Reducing demand for imported goods
Imposing lower export duties
Correct answer is C
A country can purchase more imported goods for every unit of export that it sells when its TOT improves. An increase in the TOT can, therefore, be beneficial because the country needs fewer exports to buy a given number of imports. To improve the terms of trade, imports have to be reduced to atleast match up exports.
The curve labelled W shows the ...
Which of the following will increase the demand for labour? ...
For an inferior good, a decreased in real income will lead to ...
The distinguishing function of an entrepreneur is_______ ...
Efficiency of labour is enhanced by ...
Separation of ownership of resources and their control is mostly found in a _________ ...
The following are problems of development planning in Nigeria EXCEPT ...
An increase in market supply is caused by the following factors except________ ...
Elasticity demand is an effective tool in the hands of a producer in that it enables him ...