current account and government budget Flashcards
1
Q
what is the current account made up of
A
balance of trade in goods
balance of trade in services
the balance of primary income
the balance of secondary income
2
Q
what is net primary income
A
the difference between the inward and outward flows of investment income
3
Q
what is the balance of secondary income
A
transfer payments made between counties without any repayment. The UK tends to be in defecit due to EU payments and deploying forces in Afghanistan