WAEC Economics 2015 Theory — Question 14

Question 14 of 22 from the West African Examinations Council (WAEC) Economics 2015 Theory paper, with the correct answer and a full explanation.

6(a). What is balance of payment disequilibrium?

Model answer

Balance of payment disequilibrium refers to a situation where the total payments of a country for foreign products is not equal to the total receipts from exports; it could be a favourable (surplus) or unfavourable (deficit) disequilibrium.

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