Unit 4: The Global Economy
Topic 4.6: Balance of Payments Questions
Practice 20 exam-style questions for IB Economics Topic 4.6. Review the question stems below, then unlock the full Question Bank to access markschemes, model answers, and AI grading.
11 mark
The current account of the balance of payments records:
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2026
Calculate the country's balance of trade in goods.
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Calculate the country's balance on the current account.
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A text says that Halden’s financial account recorded a surplus as foreign firms built new factories there.
Define the term financial account.
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Identify the item in the data that is NOT part of the current account.
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A text notes that Oredon’s current account has been in deficit since 2019.
Define the term current account.
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State one item recorded in the current account of the balance of payments.
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Define the term financial account.
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Define the term balance of trade in goods.
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Define the term expenditure-switching policy.
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Define the term current account.
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Define the term balance of payments.
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State whether the balance of trade in services was in surplus or deficit.
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A text explains that Belmare’s balance of payments shows large inflows of foreign direct investment.
Define the term balance of payments.
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Using the export and import figures given, calculate the visible (goods-only) trade balance.
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A text reports that Sarnia’s balance of trade in goods moved into surplus as copper exports rose.
Define the term balance of trade in goods.
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Calculate the country's current account balance.
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Using Table 2, state whether the balance of trade in services was in surplus or deficit.
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Explain how removing a tariff on imports could worsen a country's current account balance.
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Explain two consequences for an economy of a persistent current account deficit.
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