Balance of payment surplus implies that receipt... - WAEC Economics 2016 Question
Balance of payment surplus implies that receipts for exports are
A
at par with payments for imports
B
greater than payment for imports
C
less than payment for imports
D
proportional to payments for imports
correct option: b
BALANCE OF PAYMENTS SURPLUS: An imbalance in a nation's balance of payments in which payments made by the country are less than payments received by the country (exports exceeds imports) It's considered favorable because more currency is flowing into the country than is flowing out.
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