Balance of trade and balance of payments - Jamb Economics Past Questions and Answers

Question 26:

• JAMB 1992

When a foreigner on a visit to Nigeria pays for hotel accommodation and meals with some foreign currency,the amount paid should be recorded in Nigeria's balance of payment as an item of?

A. Nigeria's invisible export trade
B. Nigeria's import trade
C. Nigeria's invisble trade
D. Foreign capital inflow into Nigeria

Question 27:

• JAMB 1994

One of the techniques for rectifying a deficit balance of payment is?

A. Import promotion
B. Devaluation
C. Physical intervention
D. Borrowing from abroad

Question 28:

• JAMB 1994

In international trade, shipping and other freight charges are treated as?

A. Invisible items
B. Unilateral transfers
C. Capital transactions
D. Autonomous capital transactions

Question 29:

• JAMB 1997

In recent years, Nigeria's balance of payments has continued to register a deficit due to (i) increased government overseas' spending.
(ii) increasing prices of exports.(iii) rising import prices .(iv)more payment to overseas' investors.

A. I, ii and iii
B. I, ii and iv
C. I, ii, iii and vi
D. I, ii, iii and iv

Question 30:

• JAMB 1997

The organization which provides credit to help countries achieve short-term balance in their balance of payment is the?

A. Economic Community of West Africa States
B. International Monetary Fund
C. International Bank for Reconstruction and Development
D. African Develoment Bank