Economics JAMB

A country’s import price index by 1995 was 50 and her index of export price was 70. Calculate the terms of trade?
A country’s import price index by 1995 was 50 and her index of export price was 70. Calculate the terms of trade?A country’s import price index by 1995 was 50 and her index of export price was 70. Calculate the terms of trade?

A. 20%
B. 71%
C. 120%
D. 140%

Correct Answer:

Option D – 140%

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