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JAMB Economics 1988 Question 39

Question 39

Balance of Payments and Exchange Rates

Which of the following is a good example of invisible item on balance of payments account?

  1. A.Shipping and aviation
  2. B.Export and imports
  3. C.Merchandise
  4. D.Bullion
Show the answer and explanation

Answer: A (Shipping and aviation)

Explanation

Invisible items are services, such as shipping, aviation, insurance and tourism.