A-LevelEconomicsInternational economic issues9708/12 · Oct/Nov 2013 · Q221 Mark
In Australia in 2005 a shipload of exported iron ore paid for 2200 imported flatscreen TVs. In 2010 the same size shipload paid for 22 000 imported flatscreen TVs. Which combination of price changes is certain to cause this change in the terms of trade of Australia? [Table 22.1]
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Adecrease, decrease
Bdecrease, increase
Cincrease, decrease
Dincrease, increase
✓ Correct answer
C: increase, decrease
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