International Trade - Jamb Economics Past Questions and Answers

Question 161:

• JAMB 2012

A deficit balance of payments is measured by subtracting the debits from the credits in the

A. Current account
B. Current and capital accounts
C. Current and escrow accounts
D. Capital and escrow accounts

Question 162:

• JAMB 2020

Which of the following is an example of an invisible item on the balance of payments account

A. Shipping and aviation
B. Exports and imports
C. Merchandise
D. Bullion

Question 163:

• JAMB 2020

A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

A. Dumping
B. Counter trade
C. Bilateral trade
D. Trade liberalization

Question 164:

• JAMB 2021

When a nation's exports are greater than its imports, ____________

A. The net foreign trade is zero
B. A favourable balance of trade exists
C. A favourable balance of payment exists
D. An unfavourable balance of trade exists

Question 165:

• JAMB 2021

Surplus in balance of payments leads to ____________

A. Government budget surplus
B. Increase in foreign reserves
C. Decrease in foreign reserves
D. None of the above