country has the following items in its balance of payments: £ millions Exports of goods 120 Imports of services 60 Income flows and current transfers from abroad 80 Imports of goods 150 Exports of services 50 Income flows and current transfers going abroad 30 Its balance on trade in goods and services is a A) deficit of £30m B) deficit of £40m C) deficit of £20m D) surplus of £10 E) deficit of £10m
country has the following items in its balance of payments: £ millions Exports of goods 120 Imports of services 60 Income flows and current transfers from abroad 80 Imports of goods 150 Exports of services 50 Income flows and current transfers going abroad 30 Its balance on trade in goods and services is a A) deficit of £30m B) deficit of £40m C) deficit of £20m D) surplus of £10 E) deficit of £10m
Chapter18: International Finance
Section: Chapter Questions
Problem 1.1P
Related questions
Question
A country has the following items in its balance of payments:
|
|
£ millions |
|
Exports of goods |
120 |
|
Imports of services |
60 |
|
Income flows and current transfers from abroad |
80 |
|
Imports of goods |
150 |
|
Exports of services |
50 |
|
Income flows and current transfers going abroad |
30 |
Its balance on trade in goods and services is a
A) deficit of £30m
B) deficit of £40m
C) deficit of £20m
D) surplus of £10
E) deficit of £10m
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
