Commodity Terms of Trades & Export and Import Price Index Questions

1. a country that allows both imports and exports is referred to as _________ economy.

2. the Us bureau of ___________ is responsible for collecting, computing the export price index and import price index for US.

3. the equation used to calculate the commodity terms of trades is the ________ price index divided by the __________ price index * __________

4. if the commodity terms of trade value is less than __________, we would interpret this as demonstrating worsening terms of trade for a given year relative to the base year.

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