The terms of trade of a country is defined as
ECONOMICS
JAMB 2005
The terms of trade of a country is defined as
- A. \(\frac{\text{Index of import prices}}{\text{Index of export prices}}\) x 100
- B. \(\frac{\text{Index of exportable}}{\text{Index of importable}}\) x 100
- C. \(\frac{\text{Index of visible imports}}{\text{Index of visible exports}}\) x 100
- D. \(\frac{\text{Index of export prices}}{\text{Index of import prices}}\) x 100
Correct Answer: D. \(\frac{\text{Index of export prices}}{\text{Index of import prices}}\) x 100
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