Flashcards in Terms Of Trade Deck (8)
How is ToT measured?
Ratio of exports to imports
How does ToT "worsen?"
Import increases by relatively larger proportion
When was the largest sustained boost to the ToT?
What is the effect of an increase in ToT?
Require less to purchase a quantity of goods
What is the term for a fall in ToT?
A currency that largely depends on commodity prices
Dutch disease/two speed economy
One sector doing well, others are unchanged/deteriorate