A country’s terms of trade rose from a base year index of 100 to 120 in the following year. If export prices had risen by 50%, by what amount did the price of the country’s imports change?
- A–30%
- B–25%
- C+25%
- D+30%
Economics 9708 · AS & A Level · 6.3
A country’s terms of trade rose from a base year index of 100 to 120 in the following year. If export prices had risen by 50%, by what amount did the price of the country’s imports change?