The United Kingdom’s deficit on the current account of its balance of payments in the fourth quarter of 2023 was £22.4 billion (3.2% of GDP). This represented an increase from the deficit of £18.5 billion (2.7% of GDP) recorded in the third quarter of 2023.
Evaluate whether the UK would benefit from a significant reduction in the deficit on the current account of its balance of payments.
38 exam-style questions on OCR A Level Economics Balance of payments. Each one has a worked solution and a mark scheme showing where the marks go.