Question 24
Question 24 of 30

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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct

Topics Tested

exports, imports and the terms of trade: measurement of the terms of trade, causes of changes in the terms of trade, impact of changes in the terms of trade

effects of shifts in demand and supply curves on equilibrium price and quantity

causes of a shift in the demand curve (D)