Neco Model Questions Vol1 2021 Economics Question 38
Practice objective / multiple choice question 38 from the 2021 Neco Model Questions Vol1 Economics examination.
Country Y exports 2,000 tonnes of coffee at a world price of \(\$3\) per kilogram and imports 1,500 tonnes of wheat at a world price of \(\$2\) per kilogram. If the world price of coffee rises to \(\$4\) per kilogram and the world price of wheat falls to \(\$1.5\) per kilogram, calculate the percentage change in the terms of trade (TOT) for Country Y and state whether the TOT has improved or deteriorated.
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About This Question
This is Neco Model Questions Vol1 2021 Economics Question 38. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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