Waec Model Questions Vol1 2023 Economics Question 20
Practice objective / multiple choice question 20 from the 2023 Waec Model Questions Vol1 Economics examination.
In year 1, a country's export price index is 120 and its import price index is 100. In year 2, the export price index rises to 138 while the import price index rises to 110. Assuming the quantities of exports and imports remain unchanged, calculate the percentage change in the country's real national income resulting from the change in terms of trade. Give your answer to two decimal places.
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About This Question
This is Waec Model Questions Vol1 2023 Economics Question 20. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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