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WAEC Economics 2006 Question 44

Question 44

International Trade

The formula (Index of export prices)/(Index of import prices) × 100 is used to measure the

  1. A.volume of trade between countries
  2. B.direction of international trade
  3. C.commodity terms of trade
  4. D.volume of imports.
Show the answer and explanation

Answer: C (commodity terms of trade)

Explanation

The commodity terms of trade compares export prices with import prices.