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IB Economics HL 4.6.1 Balance of Payments Questions

Practise 4.6.1 Balance of payments in IB Economics HL by reviewing the concepts and applying them to marked questions.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Balance of payments records credit and debit items
  • Accounts can show surpluses or deficits
  • Calculation: elements of the balance of payments from data

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Study 4.6.1—Balance of payments conceptsOpen the corresponding Concept lesson for explanations, examples and exam connections.

IB Economics HL 4.6.1 Balance of Payments Questions question 1

[Maximum number: 2]

The following diagram illustrates the domestic market for rice in Country Alpha. This diagram will be used for several of the following questions.

Figure for Question IB Economics HL 4.6.1 Balance of Payments Questions question 1 — IB Economics HL

The following table provides selected data from the balance of payments for Alpha for 2016.

Table 1

Table 1

Using the data in Table 1, calculate Alpha's current account balance for 2016.

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