The formula (index of export prices)/(index of import pri...
The formula (index of export prices)/(index of import prices) x 100 is used to measure the____________
Volume of trade between countries
Direction of international trade
Commodity terms of trade
Volume of imports
Correct answer is C
Term of trade refer to the rate at which a country’s exports exchange for its import. It is expressed as a relation between the prices a country receives for its export and the prices it pay for import. Term of trade is usually measured by this mathematical formula.
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