JAMB Commerce 2017 Objective — Question 32

Question 32 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2017 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 prices to import prices

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

Explanation

Terms of trade improve when export prices rise relative to import prices, i.e. the ratio increases.

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