The rate at which nations will exchange goods and services is known as the:

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The rate at which nations will exchange goods and services is known as the:

The rate at which nations will exchange goods and services is known as the:

▸ terms of trade.

▸ exchange rate.

▸ terms of exchange.

▸ transfer rate.

Textbook

Microeconomics: Principles, Applications, and Tools

Edition: 8^th

Authors: O'Sullivan, Sheffrin, Perez

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