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4.2 Balance of payments

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Question 27

The table shows all of Country M's transactions with the rest of the world during one year.

TransactionValue (£ billion)
Machinery sold to customers abroad84
Food and fuel bought from suppliers abroad61
Spending by foreign tourists in Country M26
Spending by Country M's residents on holidays abroad34
Interest received by Country M's residents from assets abroad7
Profits transferred abroad by foreign owners of businesses in Country M9
Grants received from abroad2
Foreign aid sent abroad5
A business from abroad bought a factory in Country M15

Calculate Country M's current account balance for the year.

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Markscheme

4.2 Balance of payments Questions

  1. GCSE
  2. /Economics
  3. /4.2 Balance of payments

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.

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