WAEC - Economics (2022 - No. 41)
Given that a country's index of export price is 180 and that of import is 200, the terms of trade is
0.09
2.00
90.00
380.00
Spiegazione
Terms of trade = Index of export/ Index of import x 100
= 180/200 x 100
= 90
= 180/200 x 100
= 90