A forecaster uses the following data for a country's tourism services:
| Tourism services flow | Current year | Forecast change next year |
|---|---|---|
| Spending by overseas visitors in the country | £60 billion | 10% increase |
| Spending by the country's residents while abroad | £80 billion | 5% decrease |
What is the forecast improvement in the country's tourism services balance?
It improves by £4 billion
It improves by £6 billion
It improves by £10 billion
It improves by £2 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.