A country records trade in goods of -£72 billion, trade in services of +£46 billion, net income of +£9 billion and net transfers of -£6 billion. Exports then rise by £12 billion while all other flows are unchanged. What is the new current account balance?
A £11 billion deficit
A £23 billion deficit
An £11 billion surplus
A £35 billion deficit
22 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.