Neco 2017 Economics Question 22
Practice objective / multiple choice question 22 from the 2017 Neco Economics examination.
Last year the country's export revenue was \(200\) million naira and import expenditure was \(180\) million naira. This year export prices rose by \(30\%\) while import prices rose by \(15\%\), with quantities unchanged. Calculate the percentage change in the terms of trade.
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About This Question
This is Neco 2017 Economics Question 22. It is one of the objective questions from the 2017 Neco Economics examination.
Difficulty level: Medium .
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