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WAEC Economics 2022 Question 47

Question 47

International Trade

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

  1. A.0.09
  2. B.2.00
  3. C.90.00
  4. D.380.00
Show the answer and explanation

Answer: C (90.00)

Explanation

Terms of trade = 180/200 × 100 = 90.