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A Country's Terms Of Trade Can Be Improved By ____? - Erudites Academy

A country’s terms of trade can be improved by ____?

by | Oct 19 | Economics JAMB | 0 comments

A. collective bargaining
B. imposing lower export duties
C. revelation of currency
D. reducing demand for imported goods

Correct Answer:

Option 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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