If, Over a Period of a Year, a Country's Import

question 44

Multiple Choice

If, over a period of a year, a country's import price index rises from 100 to 120 and its export price index rises from 100 to 110, its index for the terms of trade has

• A)risen to 109.09.
• B)risen from 100 to 120.
• C)risen from 100 to 110.
• D)fallen from 110 to 100.
• E)fallen to 91.66.

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Definitions:

Equal Pay Act

A U.S. law aimed at abolishing wage disparity based on sex by ensuring equal pay for equal work.

Substantially Equal

Refers to amounts or values that are almost the same or very closely equivalent.

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Judicial institutions authorized to hear and decide on legal disputes, enforce laws, and administer justice.

Landrum-Griffin Act

The Landrum-Griffin Act, also known as the Labor-Management Reporting and Disclosure Act of 1959, is a US law aimed at regulating labor unions' internal affairs and their officials' relationships with employers.