JAMB Commerce 2013 Objective — Question 10

Question 10 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2013 Objective paper, with the correct answer and a full explanation.

A country's terms of trade are said to improve when the ratio of her export

A. remains constant
B. increasesCorrect
C. equals import
D. decreases

Explanation

When the ratio at which exports pay for imports increases, we can say the terms of trade of the country has improved.

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