Economics 9708 · AS & A Level · Balance of payments

Balance of payments — practice question

The graph illustrates the annual percentage change in the prices of services and in the prices of goods from 2007 to 2012. What can be deduced from the graph?

  • AOn average the price of services was higher than the price of goods throughout the period.
  • BThe average price of goods was higher in 2012 than in 2010.
  • CThe average price of services was higher in 2012 than in 2010.
  • DThere was a fall in the general price level between 2008 and 2010.

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