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Economics (AS & A Level) · May / June 2024 · Paper 11 · Question 27

9708The reasons for international trade

The terms of trade for a country increased from 100 to 120. Which statements are correct? 1 The terms of trade have deteriorated. 2 Fewer exports are needed to buy the same quantity of imports. 3 The balance of payments must improve.

  1. A1 and 2
  2. B1 only
  3. C2 and 3
  4. D2 only

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Correct answer: D. 2 only

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