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Balance of payments problem can be corrected through

Economics
WAEC 2012

Balance of payments problem can be corrected through

  • A. increasing foreign reserves
  • B. increasing domestic borrowing
  • C. import promotion strategies
  • D. export promotion strategies
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Correct Answer: Option D
Explanation

Ballance of payment problems can be corrected by Export Promotion strategy. This strategies are aimed at promoting the industries that have potential for developing and competing with foreign rivals.  

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