Basic issues in foreign trade - balance of trade - Jamb Commerce Past Questions and Answers

Question 6:

• JAMB 2010

The comparison of a country's visible and invisible exports and imports expressed in monetary term is?

A. Balance of payment
B. Terms of trade
C. Balance of trade
D. Terms of payment

Question 7:

• JAMB 2013

A country is said to be experiencing an unfavorable balance of trade if her

A. Exports exceed imports
B. Visible exports exceed visible imports
C. Imports and exports are equal
D. Visible imports exceed visible exports

Question 8:

• JAMB 2013

A country's terms of trade are said to improve when the ratio of her export

A. Decreases
B. Remains constant
C. Increases
D. Equals import