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JAMB Economics 2017 Paper
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Question : 21
Total: 50
A country's terms of trade can be improved by ____?
collective bargaining
imposing lower export duties
revelation of currency
reducing demand for imported goods
Validate
Solution:
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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