a. They are determined by supply and demand factors.
b. They lie somewhere between the opportunity costs of the trading partners.
c. GATT begins negotiations on the terms of trade.
d. They depend on negotiations between trade partners.
e. They often favor one partner more than the other.
b. They lie somewhere between the opportunity costs of the trading partners.
c. GATT begins negotiations on the terms of trade.
d. They depend on negotiations between trade partners.
e. They often favor one partner more than the other.
ANSWER
c. GATT begins negotiations on the terms of trade.