The table below contains data on the components of aggregate demand in an economy in 2018.
| Component | £bn at 2015 prices | % change on 2017 |
|---|---|---|
| Household consumption | 600.0 | 2.0 |
| Government consumption | 180.0 | 1.5 |
| Gross fixed investment | 160.0 | -3.0 |
| Exports of goods and services | 220.0 | 4.5 |
| Imports of goods and services | 260.0 | 5.0 |
Which one of the following is supported by the data?
The economy ran a surplus on its trade in goods and services in 2018.
The increase in the value of government consumption between 2017 and 2018 was solely due to inflation.
Household consumption represented exactly two-thirds of aggregate demand in 2018.
Gross fixed investment was the second largest component of aggregate demand in 2018.
222 exam-style questions on AQA A Level Economics 2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts, covering 2.2.1 The circular flow of income, 2.2.2 Aggregate demand and aggregate supply analysis, 2.2.3 The determinants of aggregate demand, 2.2.4 Aggregate demand and the level of economic activity, 2.2.5 Determinants of short-run aggregate supply, and 2.2.6 Determinants of long-run aggregate supply. Each one has a worked solution and a mark scheme showing where the marks go.