WAEC Economics 2016 Question 48

Question 48

International Trade

One of the physical measures that can be used to reduce the volume of imports is the

  1. A.reduction of personal income tax.
  2. B.removal of import duties.
  3. C.use of foreign exchange control.
  4. D.liberalization of credit for importers.
Show the answer and explanation

Answer: C (use of foreign exchange control.)

Explanation

Exchange control limits the foreign currency available for imports.