The external accounts of the fictional economy of Norvale show the following balances for one year:
| Item | Balance |
|---|---|
| Trade in goods | -£82 billion |
| Trade in services | +£57 billion |
| Net secondary income | -£9 billion |
| Current account | -£46 billion |
What was Norvale's net primary income balance?
-£12 billion
+£12 billion
-£21 billion
-£34 billion
52 exam-style questions on OCR GCSE Economics 4.2 Balance of payments, covering 4.2.1 Balance of payments on current account, 4.2.2 Balanced account, surplus and deficit, 4.2.3 Calculate deficits and surpluses, 4.2.4 Analyse exports and imports data, 4.2.5 Importance of the balance of payments, and 4.2.6 Causes of surpluses and deficits. Each one has a worked solution and a mark scheme showing where the marks go.