JAMB - Economics (2012 - No. 41)
A deficit balance of payments is measured by subtracting the debits from the credits in the
current account
current and capital accounts
current and escrow accounts
capital and escrow accounts
Explication
A balance of payments deficit means the country imports more goods, services, and capital than it exports. The current account + capital account make up the balance of payment account and when the imports exceeds the exports, it becomes a deficit balance of payment.