Neco 2025 Economics Question 22
Practice objective / multiple choice question 22 from the 2025 Neco Economics examination.
In a small open economy, the export price index rises from 100 to 108 while the import price index rises from 100 to 105. Export and import quantities remain unchanged. Initially, export earnings are \(200\) billion naira and import expenditures are \(250\) billion naira. Calculate the new terms of trade index (export price index divided by import price index, multiplied by 100) rounded to two decimal places.
Answer Options
About This Question
This is Neco 2025 Economics Question 22. It is one of the objective questions from the 2025 Neco Economics examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.