Terms of Trade

Terms of Trade

12th Grade

8 Qs

quiz-placeholder

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Terms of Trade

Terms of Trade

Assessment

Quiz

Other

12th Grade

Medium

Created by

Ben Wilson

Used 78+ times

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the calculation for the terms of trade?

(Index of import prices / index of export prices ) x 100

(Index of export prices / index of import prices ) x 100

(Index of import prices / index of export prices )

(Index of export prices / index of import prices )

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The country’s rate of inflation relative to other countries is a factor that influences a country’s terms of trade.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The country’s exchange rate is NOT a factor influencing a country’s terms of trade.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tariffs can influence a country’s terms of trade.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which would be an impact of tariffs on a country’s terms of trade?

A decrease in the terms of trade

An increase in the terms of trade

No impact

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the pound were to devalue, what is the impact on the UK’s terms of trade?

A decrease in the terms of trade

An increase in the terms of trade

No impact

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an effect of an increase in a country’s terms of trade?

Higher living standards

Decrease in living standards

An increase in competitiveness of the country’s goods and services

An increase in the current account of the balance of payments

8.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Calculate the terms of trade in year 2 resulting from the following changes , assuming that the base year is year 1:

a 20% increase in the price of exports, and a 10% increase in the price of imports.

80 / 90 x 100

120 / 110 x 100

140 / 130 x 100

120 / 100 x 100