Waec Model Questions Vol1 2022 Economics Question 21
Practice objective / multiple choice question 21 from the 2022 Waec Model Questions Vol1 Economics examination.
Country X exports 2 million tonnes of cocoa at $1,200 per tonne and imports 1.5 million tonnes of wheat at $800 per tonne. The government imposes a 10 % export tax on cocoa and a 5 % import tariff on wheat. Calculate the percentage change in the country's terms of trade (export price ÷ import price) after the taxes.
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About This Question
This is Waec Model Questions Vol1 2022 Economics Question 21. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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