MACRO Aims: 4. Balance of Payments

Question 1

Describe components of the UK Balance of Payments

Answer 1

Question 2

Describe the possible impact of less cars being produced in England on the UK Balance of Payments’ Current Account

Answer 2

Question 3

Describe recent trends in the UK Balance of Payments

Answer 3

Question 4

What can governments do to improve the Balance of Payments?

Answer 4

Question 5

Explain the impact of the weak exchange rate of Sterling on the UK Balance of Payments

Answer 5

Question 6

Explain factors that may have caused Scottish export volumes to rise.

Answer 6

Question 7

Describe how demand and supply for sterling can automatically correct a deficit in the UK’s Current Account of the Balance of Payments

Answer 7

Question 8

Describe what is meant by “exports of textiles”

Your response must make reference to information provided in the article.

Answer 8

Question 9

Describe the effect of increased sales of Scottish textiles to China on the UK’s Balance of Payments.

Answer 9

Question 10

Describe the ways in which the UK government could improve competitiveness for new Scottish clothing manufacturers.

Answer 10