A country’s terms of trade is presently 150 (base year 2000 = 100). From 2000 onwards, the average price it has earned for exports has risen by 20 %. By how much has the average price it has paid for imports changed?
- A–25 %
- B–20 %
- C+20 %
- D+25 %
Economics 9708 · AS & A Level · International trade and free trade