Post Utme Elizade University 2019 Economics Question 6

Practice objective / multiple choice question 6 from the 2019 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2019 Economics Objective / Multiple Choice

Question 6 POST_UTME_ELIZADE_UNIVERSITY • 2019 • ECONOMICS • objective

Consider a country with a fixed exchange rate of ₦5 per US dollar. If the country's GDP is ₦10 trillion and its imports are ₦2 trillion, what is the balance of payments surplus or deficit?

Answer Options

Correct Answer A. ₦8 trillion surplus

B. ₦8 trillion deficit

C. ₦4 trillion surplus

D. ₦4 trillion deficit

Correct Answer

Correct Option:

₦8 trillion surplus

About This Question

This is Post Utme Elizade University 2019 Economics Question 6. It is one of the objective questions from the 2019 Post Utme Elizade University Economics examination.

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