Post Utme Unilag 2022 Economics Question 23

Practice objective / multiple choice question 23 from the 2022 Post Utme Unilag Economics examination.

Post Utme Unilag 2022 Economics Objective / Multiple Choice
Question 23 POST_UTME_UNILAG • 2022 • ECONOMICS • objective

A country's GDP is $100 billion, its imports are $20 billion, and its exports are $30 billion. What is its balance of trade?

Answer Options

A. The balance of trade is a surplus of $10 billion.
Correct Answer B. The balance of trade is a deficit of $10 billion.
C. The balance of trade is a surplus of $20 billion.
D. The balance of trade is a deficit of $20 billion.
Correct Answer
B
Correct Option:
The balance of trade is a deficit of $10 billion.

About This Question

This is Post Utme Unilag 2022 Economics Question 23. It is one of the objective questions from the 2022 Post Utme Unilag Economics examination.

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