The Terms of Trade (TOT)is Defined as
A)(index of Export $R^{*}$

question 40

Multiple Choice

The terms of trade (TOT) is defined as

• A)(index of export prices)/(index of import prices).
• B)(home-country currency)/(foreign-country currency).
• C) \( R^{*} \) (\( \frac{P^{*}}{P} \))
• D) \( R^{*} \) (\( \frac{P}{P^{*}} \))
• E)having a competitive advantage over other nations.

---

Definitions:

Deindustrialization

The transformation of an economy from one based on manufacturing to one based on services.

Structural Variables

Components of social, economic, or political structures that can affect outcomes in research or the understanding of societal phenomena, including factors like class, race, and gender.

Social Inequality

Exists when certain attributes affect a person’s access to socially valued resources.

Individual Attributes

The characteristics or qualities that define a person, such as physical features, personality traits, and abilities.