Post Utme Igbinedion University 2024 Economics Question 13

Practice objective / multiple choice question 13 from the 2024 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2024 Economics Objective / Multiple Choice
Question 13 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ECONOMICS • objective

A country's balance of payments (BOP) is given by the following equation: BOP = X - M, where X is the value of exports and M is the value of imports. If the country's exports are $100 million and its imports are $120 million, what is the country's BOP?

Answer Options

A. $20 million surplus
Correct Answer B. $20 million deficit
C. $10 million surplus
D. $10 million deficit
Correct Answer
B
Correct Option:
$20 million deficit

About This Question

This is Post Utme Igbinedion University 2024 Economics Question 13. It is one of the objective questions from the 2024 Post Utme Igbinedion University Economics examination.

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