Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter18: Trading With Other Nations
Section18.1: The Benefits Of World Trade
Problem 3R
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Question
How australia is benefitted from foreign countries in regard of terms of trade
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Terms of trade (TOT) is the ratio of a country's export prices to import prices.
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