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

Question 11:

• JAMB 2016

Given \(\frac{\text{index of export price}}{\text{index of import price}}\) X \(\frac{100}{1}\)
The formular above can be used to determine the

A. Terms of payment
B. Balance of payments
C. Tearms of trade
D. Import tariffs

Question 12:

• JAMB 2016

The component of balance of payments which shows how the balance of both current and capital accounts are settled is know as

A. Current account
B. Monetary movement account
C. Capital account
D. Social-welfare account

Question 13:

• JAMB 2018

Balance of payment consist of ----------- and ---------- items

A. Credit and loss
B. Visible and non-visible
C. Valid and invalid
D. Income and expenditure