Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

1. Macro Eco > Consequences of Terms of Trade > Flashcards

Consequences of Terms of Trade Flashcards

1
Q

What two things are impacted by changes in TOT?

A

living standards
competitiveness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Living standards

A

deterioration - imports more expensive - decrease living standards

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Competitiveness

A

deterioration - exports cheaper - increase competitiveness
(increase employment, real GDP, and reduced current account def)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

1. Macro Eco (38 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions