Economics · International Trade
Consider the following statements regarding Terms of Trade (ToT): (a) It measures export prices relative to import prices. (b) Unfavorable ToT occurs when export prices rise faster than import prices. (c) Rising oil prices can worsen ToT for oil-importing countries. (d) It directly affects the Balance of Payments. Which of the above statements are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(a), (b), (c)
- 2(a), (c), (d)✓
- 3(b), (c), (d)
- 4(a), (b), (d)
Correct answer
(a), (c), (d)
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