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  • 10-06-2017
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"the terms of trade between two countries refer to"

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1026090 1026090
  • 11-06-2017
Terms of trade (TOT) refers to the relative price of imports in terms of exports[1] and is defined as the ratio of export prices to import prices.[2] It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.
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