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Which of the following is an example of an invisible item on the balance of payments account

Economics
JAMB 2020

Which of the following is an example of an invisible item on the balance of payments account

  • A. shipping and aviation
  • B. exports and imports
  • C. merchandise
  • D. Bullion
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Correct Answer: Option A
Explanation

Invisible balance of payments are services and other products that do not result in the transfer of physical objects. Examples include consulting services, shipping services, tourism, and patent license revenues.


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