Economics (AS & A Level) · Feb / March 2024 · Paper 12 · Question 26
9708The reasons for international trade
When must the terms of trade of a country change?
- Awhen the volume of exports falls and the volume of imports rises
- Bwhen the total value of exports falls and the total value of imports rises
- Cwhen the balance of trade in goods moves from deficit to surplus
- Dwhen the average price of exports rises and the average price of imports falls
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Correct answer: D. when the average price of exports rises and the average price of imports falls
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