Waec Model Questions Vol1 2024 Economics Question 44
Practice objective / multiple choice question 44 from the 2024 Waec Model Questions Vol1 Economics examination.
Country X exports coffee and imports wheat. Over a year the export price index rises from 100 to 112 while the import price index rises from 100 to 108. Quantities of exports and imports remain unchanged. The terms of trade (ToT) are defined as ToT = (Export Price Index ÷ Import Price Index) × 100. Calculate the percentage change in the terms of trade and state whether the country's real income improves or deteriorates as a result.
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About This Question
This is Waec Model Questions Vol1 2024 Economics Question 44. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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