Neco Model Questions Vol1 2025 Economics Question 15
Practice objective / multiple choice question 15 from the 2025 Neco Model Questions Vol1 Economics examination.
Country X exports coffee and imports oil. The world price of coffee rose from \(\$2.00\) per kg to \(\$2.50\) per kg, while the world price of oil fell from \(\$0.80\) per litre to \(\$0.70\) per litre. Calculate the percentage change in Country X's terms of trade (export price index divided by import price index) and state whether its terms of trade improved or deteriorated.
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About This Question
This is Neco Model Questions Vol1 2025 Economics Question 15. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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