Use Extract D to identify two significant points of comparison between the balance of trade in goods and the balance of trade in services over the period shown.
Comparison one: the balance of trade in goods peaked in 2010 Q4 at -£10.4 million, whereas the balance of trade in services peaked in 2011 Q2 at £5.6 million.Comparison two: the balance of trade in goods had a range of £5 million between highest and lowest, whereas the balance of trade in services had a smaller range of £2.5 million between highest and lowest.
JS
Related Economics A Level answers
All answers ▸Consider Donald Trump chooses to raise import tariffs on Chinese Goods, what will be the impact on the US macroeconomic environment?
Explain some benefits of a Monopoly
How can globalisation increase domestic competitiveness?
Describe and explain the main differences between Perfect Competition and Monopoly market structure.