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JAMB Commerce 2008 Question 23

Question 23

Foreign Trade

Balance of payments is made up of

  1. A.visible and current items
  2. B.invisible and capital items
  3. C.current and capital items
  4. D.visible and invisible items.
Show the answer and explanation

Answer: C (current and capital items)

Explanation

The balance of payments has a current account (visible and invisible trade) and a capital account (loans and investment flows).