Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

for a country with one important commodity (such as soil) a.a rise in its price in international exported markets will improve the country's terms of

for a country with one important commodity (such as soil)

a.a rise in its price in international exported markets will improve the country's terms of trade.

b.a fall in its price will improve the terms of trade

c.its terms of trade will be unaffected by a change in its price

d.a rise in its price will be helpful to the terms of trade and balance of payments only if world demand for it is elastic.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Chinese Economy Transitions And Growth

Authors: Barry Naughton

1st Edition

0262640643, 9780262640640

More Books

Students also viewed these Economics questions

Question

Does positivity have a place in the workplace? Explain.

Answered: 1 week ago