Question 1

The table below shows an extract from balance of payments for country A. Use the table to answer the questions that follow:
Balance of payments items
 

   Items of transaction  Receipts ($)  Payment ($)
 1  Merchandise (visible trade)  52,000.00  4,000.00
 2  Shipping, other transport and travel  4,000.00  8,000.00
 3  Investment income  20,000.00  5,000.00
 4  Other services  2,500.00  7,500.00
 5  Unrequired transfers  22,800.00  7,000.00
 6  Direct investment  50,000.00  26,000.00
 7  Other long-term capital  254,000.00  289,000.00
 8  Short-term capital  221,000.00  238,000.00

Calculate the:

(a) balance of trade (3 marks)

(b) balance on current account (8 marks)

(c) balance on capital account (6 marks)

(d) balance of payment (3 marks) 

Theory

Question details

Exam body
WAEC
Subject
Economics
Year
2014
Question no.
#1
Type
Theory

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