Economics (AS & A Level) · May / June 2025 · Paper 12 · Question 28
9708The reasons for international trade
Which formula is used to calculate the terms of trade?
- Athe average price of exports divided by the average price of imports
- Bthe average price of imports divided by the average price of exports
- Cthe value of exports divided by the value of imports
- Dthe value of imports divided by the value of exports
As printed in the paper
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Correct answer: A. the average price of exports divided by the average price of imports
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