WAEC Economics 2025 Objective — Question 48
Question 48 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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A long-term adverse balance of payments can be corrected by
- A. reducing or removing export duties.
- B. revaluing the domestic currency.
- C. using foreign currency reserves.Correct
- D. receiving gifts from other countries.
Explanation
A country facing a long-term deficit can draw on its foreign currency reserves to finance the shortfall.
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