Post Utme Uniport 2022 Economics Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Uniport Economics examination.

Post Utme Uniport 2022 Economics Objective / Multiple Choice
Question 17 POST_UTME_UNIPORT • 2022 • ECONOMICS • objective

A country's balance of payments 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 billion and its imports are ₦120 billion, what is the country's 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 Uniport 2022 Economics Question 17. It is one of the objective questions from the 2022 Post Utme Uniport Economics examination.

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