Author Question: The terms of trade refers to A) the ratio at which a country can trade its exports for imports ... (Read 161 times)

Chloeellawright · **on:** Jun 29, 2018

The terms of trade refers to

A) the ratio at which a country can trade its exports for imports from other countries.
B) the role of the government in overseeing international trade.
C) the rules and regulations that countries must adhere to when trading.
D) a legal document that specifies the trade quantities agreed to by two countries.

Question 2

The key factors in raising standards of living in low-income countries have been increases in

A) capital accumulation and the money supply.
B) income and government ownership of resources.
C) foreign aid and population.
D) technology and knowledge.