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JAMB Economics 1980 Question 46

Question 46

Balance of Payments and Exchange Rates

Indicate which of the following are invisible trade items in a country's balance of payments

  1. A.Oil exports and imports
  2. B.Gold and foreign reserves
  3. C.Foreign investments
  4. D.Dividends and profits
  5. E.Expenditure on shipping and tourism.
Show the answer and explanation

Answer: E (Expenditure on shipping and tourism.)

Explanation

Shipping and tourism are services, which are invisible items in the current account.