The rate where a country s exports exchange for... - JAMB Commerce 2023 Question
The rate where a country\'s exports exchange for its imports is called
A
terms of trade
B
balance of trade
C
terms of payments
D
balance of payments
correct option: a
Terms of trade refer to the rate at which a country's exports exchange for its imports. It is an important indicator of a country's economic health and its ability to purchase imports.
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