What are the terms of exchange and how are these terms related to the price?
What will be an ideal response?
The terms of exchange are the terms under which trading takes place. Usually, the terms of exchange specify the price at which the good is traded, which is determined by the interaction of supply and demand.
Economics
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In the figure above, the tariff ________ U.S. imports of shirts by ________ million shirts per year
A) decreases; 16 B) decreases; 8 C) increases; 8 D) increases; 4
Economics
Because of automatic stabilizers, disposable income varies proportionately less than real GDP during periods of economic fluctuations
a. True b. False Indicate whether the statement is true or false
Economics