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WAEC Commerce 1993 Question 93

Question 93

Foreign Trade

Which of the following measures cannot be used to correct a balance of payment deficit in Nigeria?

  1. A.Imposing import licenses
  2. B.Devaluing the Naira
  3. C.Placing total ban on some commodities
  4. D.Increasing import duties
  5. E.Increasing imports
Show the answer and explanation

Answer: E (Increasing imports)

Explanation

More imports would make the deficit bigger, not smaller.