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Given that a country's index of export price is 180 and that of import is...

Economics
WAEC 2022

Given that a country's index of export price is 180 and that of import is 200, the terms of trade is

  • A. 0.09
  • B. 2.00
  • C. 90.00
  • D. 380.00
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Correct Answer: Option C
Explanation

Terms of trade = Index of export/ Index of import x 100

= 180/200 x 100

= 90

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