Post Utme Babcock University 2022 Economics Question 22

Practice objective / multiple choice question 22 from the 2022 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2022 Economics Objective / Multiple Choice
Question 22 POST_UTME_BABCOCK_UNIVERSITY • 2022 • ECONOMICS • objective

A country's GDP is calculated as the sum of the value of all final goods and services produced within its borders. If a country imports goods worth ₦100 billion and exports goods worth ₦120 billion, what will be the balance of trade?

Answer Options

Correct Answer A. ₦20 billion surplus
B. ₦20 billion deficit
C. ₦40 billion surplus
D. ₦40 billion deficit
Correct Answer
A
Correct Option:
₦20 billion surplus

About This Question

This is Post Utme Babcock University 2022 Economics Question 22. It is one of the objective questions from the 2022 Post Utme Babcock University Economics examination.

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