Economics- Edexcel 4.1.7
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | net balance of trade in goods, net balance of trade in services, net primary income, net secondary income
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| show | manufactured goods, component parts, raw materials, energy products, capital technology
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| trade balance in services | show 🗑
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| show | measures profits, interest and dividends from investments in other countries, includes net remittance flows from migrant workers living and working overseas
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| net primary income from overseas assets definition | show 🗑
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| show | overseas aid / debt relief transfers, military grants
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| net secondary income definition | show 🗑
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| show | sale of patents, copyrights, franchises, leases and other transferable contracts/debt cancellation/capital transfers of ownership of fixed assets
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| show | records the net flow of investment transaction into an economy
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| show | transactions that result in a change of ownership of financial assets and liabilities
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| show | net balance of FDI, net balance of portfolio investment flows, balance of banking flows, changes to the value of reserves of gold and foreign currency held by a national government
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| show | investment from one country into another that involves establishing operations or acquiring tangible assets
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| FDI flows inwards | show 🗑
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| FDI flows outwards | show 🗑
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| show | when people and businesses from one country buy shares or other securities such as government and corporate bonds in other nations
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| show | external deficit
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| show | a financial account surplus
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| current account deficit countries | show 🗑
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| show | poor price and non-price competitiveness/strong exchange rates/recession/volatile global prices/strong domestic economic growth
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| structural causes of a current account deficit focussing on longer-term causes include | show 🗑
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| show | loss of AD weakens real GDP growth/causes external value of currency to depreciate leading to cost-push inflation & deterioration in ToT/if borrow increase external debt(risk if interest rates rise)/loss of investor consequence leading to capital flight
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| show | a large-scale exodus of financial assets and capital from a nation due to events such as political or economic instability, currency devaluation or the imposition of capital controls
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| current account surplus | show 🗑
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| surplus nations | show 🗑
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| show | an accumulation of foreign exchange including US dollars from rising export sales or an increase in net primary and secondary income flows
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| main causes of a current account surplus | show 🗑
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| measures to reduce a country’s imbalance on the current account | show 🗑
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| expenditure switching policies | show 🗑
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| show | policies designed to lower real incomes and AD and cuts spending on imports, e.g. higher direct taxes, cuts in government spending or an increase in interest rates
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| current account deficit corrected by changes in a country’s exchange rate | show 🗑
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| show | a currency depreciation may not improve the current account because of price inelastic for imports and exports in the short term, earnings from exports are less than higher spending on imports leading to a worsening balance of trade
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| show | contracts for imported goods are already signed and it takes time for export businesses to increase their export volumes following a fall in prices
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| show | providing that the sum of the coefficient of price elasticity of demand for imports and exports are greater than one, then the trade balance will improve over time
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| show | refer to persistent current account surpluses for some countries contrasted with deficits in other nations
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| trade deficit countries | show 🗑
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| trade surplus countries | show 🗑
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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