The rate at which a country’s export exchange for its imports is
- terms of payment
-
terms of trade
- balance of payment
- balance of trade
The correct answer is: B
Explanation
The rate at which a country's export exchange for its imports is known as the 'terms of trade'. The terms of trade are the ratio of an index of a country's export prices to an index of its import prices. It shows the quantity of import goods an economy can purchase per unit of export goods.