WAEC Economics 2016 Objective — Question 46
Question 46 of 50 from the West African Examinations Council (WAEC) Economics 2016 Objective paper, with the correct answer and a full explanation.
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46. Balance of payments surplus implies that receipts for exports are (a) at par with payments for imports (b) greater than payments for imports (c) less than payments for imports (d) proportional to payments for imports
- A. at par with payments for imports
- B. greater than payments for importsCorrect
- C. less than payments for imports
- D. proportional to payments for imports
Explanation
Balance of payments is the equality of receipts on exports and payments for imports. If receipts are greater than payment, then it is favourable or surplus.
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