The table below shows an economy's volume of goods and services imported and exported between 2020 and 2022, expressed as index numbers (2020=1002020 = 1002020=100).
| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Volume of goods exported | 100 | 112 | 125 |
| Volume of goods imported | 100 | 91 | 82 |
| Volume of services exported | 100 | 106 | 114 |
| Volume of services imported | 100 | 95 | 88 |
The changes shown in the data are most likely to have been caused by
a sustained appreciation in the external value of the domestic currency.
an increase in consumer price inflation in the domestic economy relative to inflation abroad.
a depreciation in the external exchange rate of the domestic currency.
a rapid rise in domestic real household incomes.
310 exam-style questions on AQA A Level Economics 2.6 The international economy (A-level only), covering 2.6.1 Globalisation, 2.6.2 Trade, 2.6.3 The balance of payments, 2.6.4 Exchange rate systems, and 2.6.5 Economic growth and development. Each one has a worked solution and a mark scheme showing where the marks go.