Economics 0455 · IGCSE · Current account of balance of payments

Current account of balance of payments — practice question

In 2010, Vietnam recorded a deficit in the value of its trade in goods (visible) even though it exported a larger quantity of goods than it imported. What might account for this?

  • AThe average price of its goods imported exceeded the average price of its goods exported.
  • BThe average value of its goods exported exceeded the average value of its goods imported.
  • CThe country had a deficit on its trade in services.
  • DThe country’s government imposed tariffs on imports.

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI