passwella.
Menu

WAEC Economics 2024 Question 44

Question 44

Balance of Payments and Exchange Rates

Balance of payments is defined as the

  1. A.difference between the values of visible imports and visible exports.
  2. B.record of financial transactions between a country and the rest of the world.
  3. C.relationship between prices of exports and prices of imports.
  4. D.difference between a country's expected revenue and proposed expenditure.
Show the answer and explanation

Answer: B (record of financial transactions between a country and the rest of the world.)

Explanation

It records all transactions between a country and other countries.