Waec Model Questions Vol1 2018 Economics Question 17
Practice objective / multiple choice question 17 from the 2018 Waec Model Questions Vol1 Economics examination.
Country X exports 1,000 tonnes of cocoa and imports 800 tonnes of rice. One tonne equals 1,000 kg. The world price of cocoa is $2 per kg and the price of rice is $1.5 per kg. If the world price of cocoa rises to $2.5 per kg while the price of rice remains unchanged, what is the percentage change in the value of Country X's trade balance (export value minus import value)? Express your answer to one decimal place.
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About This Question
This is Waec Model Questions Vol1 2018 Economics Question 17. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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