Economics · Economics
Which expression represents the terms of trade? (Where Px represents the export price index and Pm represents the import price index.)
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Px/Pm * 100✓
- 2Pm/Px * 100
- 3(Pm+Px)/100
- 4(Pm-Px)/100
Correct answer
Px/Pm * 100
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