JAMB Economics 2012 Objective — Question 47

Question 47 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2012 Objective paper, with the correct answer and a full explanation.

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

A. current account
B. current and capital accountsCorrect
C. current and escrow accounts
D. capital and escrow accounts

Explanation

Current and capital accounts are components of the Balance of Payments where real and cash flow are recorded. The balances on these accounts can then be used to measure the deficit or surplus on the BOP.

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