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JAMB Economics 1998 Question 47

Question 47

Balance of Payments and Exchange Rates

The balance of visible trade is the difference between the values of

  1. A.imported and exported goods
  2. B.imported and exported services
  3. C.current account and capital account
  4. D.exchange rate of local and foreign currencies.
Show the answer and explanation

Answer: A (imported and exported goods)

Explanation

Visible trade is trade in physical goods, so its balance is exports of goods minus imports of goods.