passwella.
Menu

WAEC Economics 2011 Question 48

Question 48

Balance of Payments and Exchange Rates

The balance of trade is

  1. A.an annual statement showing transactions within a country.
  2. B.the relationship between a country's visible exports and imports.
  3. C.the relationship between a country's receipt from visible and invisible trade.
  4. D.an account that shows a country's payments to other countries.
Show the answer and explanation

Answer: B (the relationship between a country's visible exports and imports.)

Explanation

The balance of trade compares the value of visible exports with visible imports.