Post Utme Wellspring University 2023 Economics Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2023 Economics Objective / Multiple Choice
Question 32 POST_UTME_WELLSPRING_UNIVERSITY • 2023 • 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 exports and ( M ) is the imports. If the exports are ₦100 billion and the imports are ₦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 Wellspring University 2023 Economics Question 32. It is one of the objective questions from the 2023 Post Utme Wellspring University Economics examination.

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