Given the Following Indexes for Country I in 2012, with 2005

Essay

Given the following indexes for country I in 2012, with 2005 = 100:
$\begin{array} { l l } \text { price of exports } = 112 & \text { quantity of exports } = 94 \\\text { price of imports } = 108 & \text { quantity of imports } = 102\end{array}$
(a) Calculate country I's net barter or commodity terms of trade for 2012 (round to nearest one decimal place if necessary)..
(b) Calculate country I's income terms of trade for 2012 (round to nearest one decimal place if necessary)..
(c) Explain your differing results for (a) and (b) and briefly explain the significance of each terms-of-trade movement for country I.