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A country has a surplus in its balance of visible trade if

Economics
JAMB 1978

A country has a surplus in its balance of visible trade if

  • A. the value of imports exceeds the value of exports of goods
  • B. the value of exports exceeds the value of import of goods
  • C. the value of goods exported is equal to the value of goods imported
  • D. it is able to spend a lot on capital programmes
  • E. commercial banks assets increase
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Correct Answer: Option B
Explanation

A surplus in the balance of trade occurs when exports exceed imports 

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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709