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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
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). Using 2000 as the base year, Uruguay's commodity terms of trade (CTT) in 2010, was: Group of answer choices 140. 100. 200. 56. 250
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