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WAEC Economics 2012 Question 48

Question 48

Balance of Payments and Exchange Rates

Balance of payments problem can be corrected through

  1. A.increasing foreign reserves.
  2. B.increasing domestic borrowing.
  3. C.import promotion strategies.
  4. D.export promotion strategies.
Show the answer and explanation

Answer: D (export promotion strategies.)

Explanation

Promoting exports increases foreign earnings and reduces a deficit.