The table below shows an economy's volume of goods and services imported and exported between 2019 and 2021, expressed as index numbers (2019=1002019 = 1002019=100).
| 2019 | 2020 | 2021 | |
|---|---|---|---|
| Volume of goods exported | 100 | 105 | 112 |
| Volume of goods imported | 100 | 92 | 85 |
| Volume of services exported | 100 | 102 | 106 |
| Volume of services imported | 100 | 96 | 90 |
From the data, it can only be concluded that
the total value of goods exported was greater than the total value of services exported in 2021.
there was a surplus in the balance of trade in goods in 2020 and 2021.
the total volume of exports rose relative to the total volume of imports over the period.
the net value of services trade decreased by exactly £16bn between 2019 and 2021.
187 exam-style questions on AQA A Level Economics 2.1 The measurement of macroeconomic performance, covering 2.1.1 The objectives of government economic policy, 2.1.2 Macroeconomic indicators, 2.1.3 Uses of index numbers, and 2.1.4 Uses of national income data (A-level only). Each one has a worked solution and a mark scheme showing where the marks go.