A country, Azania, has been experiencing instability in export and import flows and has its domestic budget
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Question:
A country, Azania, has been experiencing instability in export and import flows and has its domestic budget tied to its export earnings. The following table reflects this export-import flows.
Year Px Pm Qx
2012 96 94 100
2013 92 95 196
a) Calculate Azania's net barter and income terms of trade for years 2012 and 2013.
b) Calculate the changes in net barter and incomes terms of trade for the years 2012 and 2013.
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