Answer to Question #157859 in Economics for Henrika

Question #157859

N=(Px/Pm)Qx what's meaning of N, and what's meaning of Q?

Terms of Trade

• Interpretation: During 1960-99 the nation’s export prices

fell by 14% in relation to its import prices

• 100 – 86 = 14

• If quantity exported is included

• if Q, rose from 100 in 1960 to 120 in 1999 then,

• N = (95/110)120 = 103.63

• The nation’s capacity to import increased by 3.63%

between 1960 and 1999.

1
Expert's answer
2021-01-23T11:28:21-0500

In the formula N = (Px / Pm) Qx

N stands for country trade opportunities

Q means the quantity of goods of a certain type produced

Px denotes the export price of this product

Pm means the import price of this product


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS