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4.2 Balance of payments

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Question 7

Firms in Country C sell machine tools at home and overseas. They improve the reliability of the tools and their after-sales service, while prices relative to overseas rivals remain unchanged. Which change in Country C's trade is most likely to follow?

[1]
A

Exports of machine tools are unchanged and imports of machine tools fall.

B

Exports of machine tools rise and imports of machine tools are unchanged.

C

Exports of machine tools rise and imports of machine tools fall.

D

Exports and imports of machine tools are both unchanged.

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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