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How is the balance on any component of the current account calculated?
A
Earnings from selling abroad minus payments for buying from abroad.
B
A deficit of £58 billion.
C
A deficit on that component.
D
A balance is calculated as earnings from selling abroad minus payments for buying abroad.
Card 1 of 20
4.2.3 Calculate deficits and surpluses Flashcards
20 flashcards on OCR GCSE Economics 4.2.3 Calculate deficits and surpluses: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.