gross barter terms of trade

Definitions

Economics

  • The ratio of the quantity of a country's imports, Qm, to the quantity of its exports, Qx, and thus the quantity that it recieves in exchange for the quantity that it sells: GBTT = Qm/Qx. If trade is balanced, so that PxQx=PmQm, then GBTT=NBTT. Given this name by Taussig (1927).
  • acronymGBTT
    (written as Gross barter terms of trade)
  • gross barter terms of trade
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