The gain from trade is maximum if the international terms of trade are
_____________.
a. Nearer to internal terms of trade of trading partner
b. Equal to exporting country
c. Nearer to domestic terms of trade of importing country
d. None of the above
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Answer:
(a.) nearer to internal terms of trade of trading partner.
Explanation:
The gain from trade is maximum if the international terms of trade are
As the ratio cost & the terms of trade are nearer to each other it will more be the gains from the trade of the involved countries.
Hence, explained.
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