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The terms of trade between two countries refers to Multiple Choice what price the two countries agree upon for their imports and exports. the rules governing trade between the two countries. the amount of Good A given up for Good B. the terms set by the World Trade Organization for trade.

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Gauravsingh23VTidn

The terms of trade between two countries refers to what price the two countries agree upon for their imports and exports. Because, by definition, terms of commerce refer to the ratio of export prices to import prices.

What is terms of trade?

The ratio of the index of export prices to the index of import prices is known as terms of trade.

If export prices rise faster than import prices, a country's terms of trade improve, allowing it to buy more imports for the same quantity of exports.

Thus option A is correct.

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