WAEC Economics 2022 Objective — Question 47
Question 47 of 50 from the West African Examinations Council (WAEC) Economics 2022 Objective paper, with the correct answer and a full explanation.
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Given that a country's index of export price is 180 and that of import price 200, the terms of trade is
- A. 0.09
- B. 0.90Correct
- C. 2.00
- D. 380.00
Explanation
Terms of trade = Export price index ÷ Import price index = 180/200 = 0.90.
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