Post Utme Elizade University 2019 Economics Question 22

Practice objective / multiple choice question 22 from the 2019 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2019 Economics Objective / Multiple Choice
Question 22 POST_UTME_ELIZADE_UNIVERSITY • 2019 • ECONOMICS • objective

A country exports 100 units of a good at a price of ₦100 per unit and imports 50 units of another good at a price of ₦200 per unit. What is the balance of payments?

Answer Options

Correct Answer A. ₦500 surplus
B. ₦500 deficit
C. ₦1000 surplus
D. ₦1000 deficit
Correct Answer
A
Correct Option:
₦500 surplus

About This Question

This is Post Utme Elizade University 2019 Economics Question 22. It is one of the objective questions from the 2019 Post Utme Elizade University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support