passwella.
Menu

WAEC Economics 2007 Question 47

Question 47

Balance of Payments and Exchange Rates

A summary of all the receipts and payments of a country in international transactions is called

  1. A.terms of trade
  2. B.balance of payment
  3. C.balance of payment adjustment
  4. D.capital account.
Show the answer and explanation

Answer: B (balance of payment)

Explanation

The balance of payments records all a country's receipts from and payments to the rest of the world.