The Balance of Payments: The Fundamentals (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does the balance of payments record?
What does the balance of payments record?
All monetary transactions with other nations
Which component is considered the most important part of the balance of payments?
Which component is considered the most important part of the balance of payments?
The current account
What was the UK's balance of trade in goods in 2020?
What was the UK's balance of trade in goods in 2020?
−£128.7 billion
Which UK service sector contributed the largest individual surplus in 2020?
Which UK service sector contributed the largest individual surplus in 2020?
Financial services
What do primary income flows mainly consist of?
What do primary income flows mainly consist of?
Investment income like profits & dividends
Which of these is an example of secondary income?
Which of these is an example of secondary income?
Overseas aid donations
What does a current account deficit indicate?
What does a current account deficit indicate?
Currency outflows exceed inflows
What does foreign direct investment (FDI) involve?
What does foreign direct investment (FDI) involve?
Investment in real productive assets
What triggers hot money flows between currencies?
What triggers hot money flows between currencies?
Interest rate differences
Where are capital flows recorded in the balance of payments?
Where are capital flows recorded in the balance of payments?
In the financial account