The expression "terms of trade" refers to the:
A) rate at which a nation can trade its products for imported goods.
B) credit terms that an exporter extends to an importer.
C) period of time within which an importer can pay an exporter without incurring a finance charge.
D) terms on which an importer borrows from his bank in order to finance his purchases.
Ans: A) rate at which a nation can trade its products for imported goods.
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