The Balance of Payments (HSC SSCE Economics): Quizzes
📚Quizzes
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Practise the questions
10 questions from this quiz
When Australia exports iron ore, how is the payment received recorded in the balance of payments?
When Australia exports iron ore, how is the payment received recorded in the balance of payments?
As a credit (positive)
Which characteristic distinguishes current account transactions from capital and financial account ones?
Which characteristic distinguishes current account transactions from capital and financial account ones?
Current account transactions are non-reversible
If net goods is 152.4 billion and net services is -13.6 billion, what is the BOGS?
If net goods is 152.4 billion and net services is -13.6 billion, what is the BOGS?
138.8 billion surplus
What does net primary income mainly record?
What does net primary income mainly record?
Income from factors of production
What share ownership threshold defines direct investment in the financial account?
What share ownership threshold defines direct investment in the financial account?
More than 10% of shares
Which assets are controlled by the Reserve Bank of Australia in the financial account?
Which assets are controlled by the Reserve Bank of Australia in the financial account?
Reserve assets
Under a floating exchange rate, what equals a current account deficit?
Under a floating exchange rate, what equals a current account deficit?
A capital and financial account surplus
If export price index is 120 and import price index is 130, what is the terms of trade index?
If export price index is 120 and import price index is 130, what is the terms of trade index?
92.3
How does currency depreciation affect the balance on goods and services?
How does currency depreciation affect the balance on goods and services?
BOGS improves
What is the main structural reason for Australia's persistent net primary income deficit?
What is the main structural reason for Australia's persistent net primary income deficit?
Low national savings and high investment