Post Utme Lasu 2024 Economics Question 5

Practice objective / multiple choice question 5 from the 2024 Post Utme Lasu Economics examination.

Post Utme Lasu 2024 Economics Objective / Multiple Choice
Question 5 POST_UTME_LASU • 2024 • ECONOMICS • objective

A country's balance of payments is given by the equation BOP = X - M, where BOP is the balance of payments, X is the value of exports, and M is the value of imports. If the value of exports is ₦100 billion and the value of imports is ₦120 billion, what is the balance of payments?

Answer Options

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

About This Question

This is Post Utme Lasu 2024 Economics Question 5. It is one of the objective questions from the 2024 Post Utme Lasu Economics examination.

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