If the Average Price of Exports Is 14

question 114

Essay

If the average price of exports is 14.4,what is the average price of imports if the terms of trade is:
a)0.8
b)1
c)1.2

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Definitions:

Transnationalism

The process of heightened interconnectivity between people and the receding economic and social significance of boundaries among nation states.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness of the world's economies, cultures, and populations.

Labour

The effort by humans to produce goods or services in exchange for wages or other forms of compensation.

Visa Application Processes

The formal procedures and requirements set by countries for individuals seeking to enter their territory temporarily or permanently, including document submission and interviews.