MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Chapter 8, Problem 4DQ
To determine
To describe: The economic movements happening during 1942 to 1945 in this country.
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The exports of Uruguay, a developing country, are made essentially of primary commodities. A comparison between export prices received by Uruguay and the price paid for its imports shows the following: on average export prices rose 40% between 2000 and 2010, while import prices went up by 150%. Index quantities exported by the country were Qx = 15 (in 2000), and Qx = 30 (in 2010).
Uruguay’s income terms of trade (ITT) in 2000, was:
Group of answer choices
100.
1,680.
2,000.
250.
1,500.
Define Economic events.
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