The terms of trade are said to be favorable only if

Economics JAMB 1980

The terms of trade are said to be favorable only if

  • Value of total exports equals value of total imports
  • Value of merchandise exports is greater than value of merchandise imports
  • There are no balance of payments problems
  • There is an increase in the value of a unit of export in terms of imports checkmark
  • Foreign exchange reserves do not change

The correct answer is: D

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