In one year, a country earns £86 billion from exports of goods and services. Its primary income and secondary income balances are both zero, and its current account is in deficit by £14 billion. How much did the country spend on imports of goods and services during the year?
£100 billion
£86 billion
£72 billion
£14 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.