WAEC Economics 2019 Objective — Question 44
Question 44 of 50 from the West African Examinations Council (WAEC) Economics 2019 Objective paper, with the correct answer and a full explanation.
Advertisement
An improvement in a country's term of trade means that
- A. the nation can export more services
- B. nation's receipts on export is equal to payments on imports
- C. value of her imports is lower than her exportsCorrect
- D. visible exports is less than visible imports
Explanation
Terms of trade measures the rate at which a country's exports pay for its imports. An improvement means the country's exports have become more valuable relative to its imports.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.