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What comparison determines whether the current account is in surplus, deficit or balance?
A
Compare what the country earns from the rest of the world with what it pays out over the same period.
B
The same deficit is a larger share of GDP in a smaller economy.
C
It adjusts for differences in economic size.
D
A deficit.
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4.2.2 Balanced account, surplus and deficit Flashcards
26 flashcards on OCR GCSE Economics 4.2.2 Balanced account, surplus and deficit: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.