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WAEC Commerce 2024 Question 18

Question 18

Foreign Trade

An adverse balance of payment could be corrected through

  1. A.increase in imports.
  2. B.increase in exports.
  3. C.reduction of exports.
  4. D.removal of tariffs.
Show the answer and explanation

Answer: B (increase in exports.)

Explanation

A deficit means more is paid out than received; earning more from exports helps close it.