When there is improvement in a country's terms of trade, it means that the country's
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Correct Answer: Option B
Explanation:
Terms of trade (TOT) represent the ratio between a country's export prices and its import prices. If a country's terms of trade improve, it means that for every unit of exports sold it can buy more units of imported goods.
Terms of trade (TOT) represent the ratio between a country's export prices and its import prices. If a country's terms of trade improve, it means that for every unit of exports sold it can buy more units of imported goods.