Waec Model Questions Vol1 2020 Economics Question 9
Practice objective / multiple choice question 9 from the 2020 Waec Model Questions Vol1 Economics examination.
A country's export price index is 120 and its import price index is 150. The government imposes a 10% ad‑valorem tariff on all imports. What is the new terms of trade (expressed as a percentage) after the tariff is applied? (Terms of trade = (Export price index ÷ Import price index) × 100.)
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About This Question
This is Waec Model Questions Vol1 2020 Economics Question 9. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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