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WAEC Economics 2016 Question 46

Question 46

Balance of Payments and Exchange Rates

Balance of payments surplus implies that receipts for exports are

  1. A.at par with payments for imports.
  2. B.greater than payments for imports.
  3. C.less than payments for imports.
  4. D.proportional to payments for imports.
Show the answer and explanation

Answer: B (greater than payments for imports.)

Explanation

A surplus means receipts exceed payments.