JAMB Economics 1981 Question 17

Question 17

Balance of Payments and Exchange Rates

Invisible trade refers to trade in

  1. A.services
  2. B.goods and services
  3. C.tangible goods
  4. D.short-term and long-term capital
  5. E.goods that cannot be seen.
Show the answer and explanation

Answer: A (services)

Explanation

Invisible trade is trade in services such as shipping, banking, insurance and tourism.