What does the terms of trade measure?
A
The ratio of a country's average export prices to its average import prices, expressed as an index.
B
The ratio of a country's average import prices to its average export prices, expressed as an index.
C
The ratio of a country's total export volume to its total import volume, expressed as an index.
D
The ratio of a country's export revenue to its import expenditure, expressed as an index.
4.1.4 Terms of trade Flashcards
Flashcards for Edexcel A A Level Economics 4.1.4 Terms of trade, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 25 cards, matched to the Edexcel A A Level Economics (9EC0) specification.