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JAMB Economics 1980 Question 14

Question 14

Balance of Payments and Exchange Rates

By balance of visible trade we mean

  1. A.import and export of goods
  2. B.import and export of services
  3. C.balance of current account in the balance of payments
  4. D.balance of capital account in the balance of payments
  5. E.all of these.
Show the answer and explanation

Answer: A (import and export of goods)

Explanation

Visible trade is trade in physical goods that can be seen and counted at the ports.