JAMB Economics 2021 Objective — Question 38
Question 38 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2021 Objective paper, with the correct answer and a full explanation.
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38. Which of the following is not among the items in the current account a. Export of crude oil b. Payment for insurance c. Medical fees d. Debt servicing
- A. Export of crude oilCorrect
- B. Payment for insurance
- C. Medical fees
- D. Debt servicing
Explanation
Export of crude oil is a tangible (visible) trade item recorded in the trade balance, whereas the current account otherwise records invisible items such as insurance, medical fees, and debt servicing.
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