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JAMB Economics 1982 Question 47

Question 47

Balance of Payments and Exchange Rates

Balance of payments of a country explains the overall position of

  1. A.current account of the balance of payments
  2. B.capital account in the balance of payments
  3. C.both the current and capital accounts
  4. D.position of the balance of trade
  5. E.visible and invisible trade.
Show the answer and explanation

Answer: C (both the current and capital accounts)

Explanation

The balance of payments records all transactions with the rest of the world: both the current account and the capital account.