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WAEC Commerce 2000 Question 15

Question 15

Foreign Trade

When a country's total visible and invisible exports are more than its visible and invisible imports, it has

  1. A.favourable balance of payments
  2. B.favourable balance of trade
  3. C.unfavourable balance of trade
  4. D.unfavourable balance of payments
Show the answer and explanation

Answer: A (favourable balance of payments)

Explanation

Comparing both visible and invisible items gives the balance of payments; exports above imports make it favourable.