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In order to correct adverse balance of payments problem, government should? 

Economics
WAEC 2015

In order to correct adverse balance of payments problem, government should? 

  • A. reduce tariffs
  • B. increase subsidies on exports
  • C. increase tax on local industries
  • D. reduce personal income tax
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Correct Answer: Option B
Explanation

Methods of correcting adverse balance of payments

Well- known Methods of Correcting in Adverse Balance of Payment

  • Trade Policy Measures: Expanding, Exports and Restraining Imports
  • Expenditure-Reducing Policies
  • Tight Monetary Policy
  • Contractionary Fiscal Policy
  • Expenditure – Switching Policies: Devaluation
  • Devaluation: Marshall Lerner Condition
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