The current account

The current account

12th Grade

12 Qs

quiz-placeholder

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The current account

The current account

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

colin mcfall

Used 12+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The UK is an "open" economy. This means

It is easy to migrate to the UK as a refugee

We are open to new ideas on inventions and innovations

X+M is a high percentage of GDP

We are a deregulated economy and it is easy to set up a new business

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The current account measures

How many raisins fit onto a teaspoon

The volume of international trade that takes place in a nation

The value of international trade that takes place in a nation

The flow of money across borders for trade, investment income and transfer income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the UK buys a fleet of new aircraft from the USA this is recorded as

Visible trade

Invisible trade

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When UK citizens buy tickets to fly on USA airlines this is recorded as

Visible trade

Invisible trade

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

UK international trade in goods is in

Deficit

Surplus

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

UK international trade in services is in

Deficit

Surplus

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Our overall trade in both goods and services is called

The balance of trade

The current account balance

The financial balance

The balance of payments

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