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What do the terms of trade measure? What is the relationship between the terms of trade in a world of two trading nations? How are

What do the terms of trade measure? What is the relationship between the terms of trade in a world of two trading nations? How are the terms of trade measured in a world of more than two traded commodities?

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Trade terms ToT measure the amount of exports a economy can earn for an imported unit Fo... blur-text-image

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