Question

Give below are two statements: Statement - I:

The terms of trade of a nation are defined as the ratio of the cost of its export commodity to the price of its import commodity. Statement - II: The terms of trade of the trade partner are equal to the inverse of the terms of trade of the other nation. In the light of the above statements, choose the correct answer from the options given below:

A Both Statement I and Statement II are true

B Both Statement I and Statement II are false

C Statement I is true but Statement II is false

D Statement I is false but Statement II is true

E None of these

Practice Next

More Microeconomics Section Tests Questions

Given below are two statements:

Statement I

Seedling blight, collar rot, stem rot, and root rot are the important fungal diseases of jut...
Materia Medica, one of the earliest books on botanical studies was written by
Government of India had announced the “Pradhan Mantri Garib Kalyan Anna Yojana” (PM-GKAY) for all beneficiaries covered under NFSA as part of the p...
What phenomenon causes stems at ground level to scorch due to high soil temperatures?
Hen required how much sq/ft as per NABARD norms?
Optimum condition for the spread of Ergot disease of bajra is
Plants that possess spores and embryo but lack vascular tissues and seeds?
Which State in India has the highest irrigated area?
Dehradun-based Indian Institute of Petroleum has pilot tested to convert used cooking oil into:
Which of the following is not a C 4 plant?

Give below are two statements: Statement - I:

Solution