Question on: JAMB Economics - 2024

The balance of payments records all financial transactions between a country and the rest of the world. Policies that increase exports or decrease imports improve the balance of payments.* A. Anti-dumping policies: These policies restrict imports that are sold at unfairly low prices, thus improving the balance of payments.* B. Granting subsidies to export producers: This makes exports cheaper and more competitive, thereby increasing exports and improving the balance of payments.* C. Decreasing taxation on personal income: This increases disposable income, which can lead to increased spending on imports, thus worsening the balance of payments.* D. Increasing import duties: This makes imports more expensive, reducing imports and thus improving the balance of payments.