The Terms of Trade (TOT)is Defined as

question 55

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).

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Definitions:

Renewable Resources

Natural resources that can be replenished at a rate comparable to their consumption, such as solar energy, wind, and biomass.

Perpetual Resources

Resources that are continuously available and not significantly diminished by human use, such as solar energy.

Global Climate Change

Long-term changes in temperature, precipitation, and weather patterns on Earth, largely attributed to human activities.

Consensus Science

Scientific understanding or conclusions that are widely accepted and agreed upon by a significant majority of experts in the field.