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The ‘terms of trade’ means

The ‘terms of trade’ means
  • A.
    the trade agreement between two countries
  • B.
    the difference in the volumes of exports of two countries
  • C.
    the value of a unit of export in relation to the value of a unit of import
  • D.
    the production of total value of exports to the value of total trade
  • E.
    None of the above
Correct Answer: Option C
Explanation