Neco 2020 Commerce Question 39
Practice objective / multiple choice question 39 from the 2020 Neco Commerce examination.
A country imports 10{,}000 units of a product at a world price of \(\$5\) per unit. An ad valorem import tariff of \(12\%\) is applied, together with a fixed processing fee of \(\$0.20\) per unit. The exchange rate is \(\₦360\) per \(\$\). The same country exports 8{,}000 units of another product at a world price of \(\$7\) per unit and receives an export rebate of \(5\%\) of the export value. Calculate the trade balance (in naira) for the year.
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About This Question
This is Neco 2020 Commerce Question 39. It is one of the objective questions from the 2020 Neco Commerce examination.
Difficulty level: Medium .
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