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WAEC Economics 2012 Question 2

Question 2

Balance of Payments and Exchange Rates

Visible balance is also known as

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

Answer: C (balance of trade.)

Explanation

The visible balance compares visible exports and imports, which is the balance of trade.