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Define 'terms of trade' as applied by Raul Prebisch and others.What was Prebisch attempting to explain?In other words, what were the dynamics of the terms

Define 'terms of trade' as applied by Raul Prebisch and others.What was Prebisch attempting to explain?In other words, what were the dynamics of the terms of trade from the perspective of the periphery countries? Explain. Your essay must include at least two elasticity-based explanations for the dynamics of the terms of trade and two additional, non-elasticity based explanation.

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