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JAMB Commerce 2013 Question 5

Question 5

Foreign Trade

A country is said to be experiencing an unfavourable balance of trade if her

  1. A.exports exceed imports.
  2. B.visible exports exceed visible imports.
  3. C.imports and exports are equal.
  4. D.visible imports exceed visible exports.
Show the answer and explanation

Answer: D (visible imports exceed visible exports.)

Explanation

Balance of trade compares visible exports and imports; it is unfavourable when visible imports are more.