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JAMB Economics 1978 Question 36

Question 36

Balance of Payments and Exchange Rates

Which of the following items in the Balance of Payments Account is an invisible transaction?

  1. A.Import of cars
  2. B.Export of cocoa
  3. C.Export of crude petroleum
  4. D.Tourism
  5. E.Import of building materials.
Show the answer and explanation

Answer: D (Tourism)

Explanation

Tourism is a service, so it is an invisible item; the others are trade in goods.