CAPE Economics Unit 2 · 2012 · Paper 2 · Question 6(b)
Outline FOUR ways in which a global recession may impact the main accounts of the balance of payments.
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Practise this questionOther parts of this question
- 6(a)(i)Explain the difference between a 'current account transaction' and a 'capital account transaction' in the balance of payments statement.[2 marks]
- 6(a)(ii)a)Using the data in the table, calculate the current account balance.[3 marks]
- 6(a)(ii)b)Using the data in the table, calculate the overall balance of payments.[2 marks]
- 6(c)Distinguish between 'absolute advantage' and 'comparative advantage'.[4 marks]
- 6(d)Discuss TWO policy options that a country may use to correct a trade deficit.[6 marks]
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