Which of the following is not limitation of the concept of terms of trade? Select one: a) Base year choice is difficult b) Quality of goods changes c) There are no limitations d) International competitiveness may be compared e) Different countries may use different formulas
Which of the following is not limitation of the concept of terms of trade? Select one: a) Base year choice is difficult b) Quality of goods changes c) There are no limitations d) International competitiveness may be compared e) Different countries may use different formulas
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter18: Gaining From International Trade
Section: Chapter Questions
Problem 4CQ
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Question
Which of the following is not limitation of the concept of terms of trade?
Select one:
a) Base year choice is difficult
b) Quality of goods changes
c) There are no limitations
d) International competitiveness may be compared
e) Different countries may use different formulas
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