When a nation’s exports are greater than its imports

Economics

JAMB 1981

A. The net foreign trade is zero
B. an unfavourable balance of payment exist
C. A favourable balance of payment exists
D. An un favourable balance of trade exist
E. A favourable balance of trade exists

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Correct Answer: Option E

Explanation

When a nation's exports are greater than its imports, it is said to have a favorable balance of trade, indicating that it is selling more to other countries than it is buying from them.

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When a nation’s exports are greater than its imports

Correct Answer: Option E

Explanation

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