Using the information provided calculate the Income Term of trade. What can be observed between the Net Barter Term of trade and Income term of trade calculate

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter34: Globalization And Protectionism
Section: Chapter Questions
Problem 20RQ: Who does protectionism protect? From what does it protect them?
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Using the information provided calculate the Income Term of trade. What can be observed between the Net Barter Term of trade and Income term of trade calculated

YEAR
PRICE OF EXPORTS PRICE OF IMPORTS
QUANTITY EXPORTED
2010
100
100
100
2011
95
120
110
2012
80
110
120
Transcribed Image Text:YEAR PRICE OF EXPORTS PRICE OF IMPORTS QUANTITY EXPORTED 2010 100 100 100 2011 95 120 110 2012 80 110 120
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