„Terms of Trade“
What does Terms of Trade stand for?
The ratio of the index of export prices to the index of import prices. (Note the difference from “Trade Terms”
Source:
Economic Theories and ConceptsView all itemsKrugman, Paul R., Obstfeld, Maurice, and Melitz, Marc J. 2018. “International Economics: Theory and Policy”. Pearson, 11th edition, p. 632.