Economics · Economics
What is the formula for Terms of Trade (TOT)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1TOT = (Px / Pm) * 100✓
- 2TOT = (Pm / Px) * 100
- 3TOT = (Px * Pm) / 100
- 4TOT = 100 / (Px * Pm)
Correct answer
TOT = (Px / Pm) * 100
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