A country's terms of trade can be improved by ____?
ECONOMICSJAMB 2017
A country's terms of trade can be improved by ____?
- A. collective bargaining
- B. imposing lower export duties
- C. revelation of currency
- D. reducing demand for imported goods
Correct Answer: B. imposing lower export duties
Explanation
Tariffs are taxes or duties imposed on imports and exports by the government of a country. The idea behind tariffs is to restrict the volume of trade or improve the international terms of trade.
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