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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 calculate

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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

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