2. The following data are available on the prices of imports and exports of a particular country Exports (S) Imports (S) 2019 60 100 2020 40 120 2021 80 140 Calculate an index for the terms of trade such that the index assumes the value of 100 in 2019. Also calculate the percentage changes in the index in 2020 and 2021.

2. The following data are available on the prices of imports and exports of a particular country Exports (S) Imports (S) 2019 60 100 2020 40 120 2021 80 140 Calculate an index for the terms of trade such that the index assumes the value of 100 in 2019. Also calculate the percentage changes in the index in 2020 and 2021.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter29: Exchange Rates And International Capital Flows

Section: Chapter Questions

Problem 27CTQ: Suppose a country has an overall balance of trade so that exports of goods and services equal...

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