What is the calculation for the terms of trade?
Terms of Trade

Quiz
•
Other
•
12th Grade
•
Medium

Ben Wilson
Used 78+ times
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
(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
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