At the time of the writing of this question, England's economy is in a state of turmoil. One aspect of this has been a sharp decline in the value of the British pound, from $1.37 per pound on October 30th, 2021 to $1.16 on October 30th, 2022. In what way do declining terms of trade make a country worse off? What will this mean for the wellbeing of England's trading partners