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Q: Term of trade
A: Terms of trade (TOT) refers to the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices.
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User: Term of trade

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Asked 6/12/2012 4:32:34 PM
Updated 1/8/2015 6:35:51 AM
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Terms of trade (TOT) refers to the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices.
Added 1/8/2015 6:35:51 AM
This answer has been confirmed as correct and helpful.
Confirmed by selymi [1/8/2015 6:38:47 AM]
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Questions asked by the same visitor
The meaning of wage-price spiral is
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Updated 105 days ago|3/10/2018 6:52:07 PM
1 Answer/Comment

The wage-price spiral is a macroeconomic theory used to explain the cause-and-effect relationship between rising wages and rising prices, or inflation.

Added 105 days ago|3/10/2018 6:52:07 PM
This answer has been confirmed as correct and helpful.
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