Neco 2019 Economics Question 41
Practice objective / multiple choice question 41 from the 2019 Neco Economics examination.
Country X's export price index rose from 120 to 150 over a year, while its import price index increased from 110 to 130. The quantities of exports and imports remained constant at 2 million tonnes and 3 million tonnes respectively. Calculate the percentage change in the terms of trade, defined as \(\frac{\text{Export Price Index}}{\text{Import Price Index}}\times 100\). Express your answer to one decimal place.
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About This Question
This is Neco 2019 Economics Question 41. It is one of the objective questions from the 2019 Neco Economics examination.
Difficulty level: Medium .
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