A-LevelEconomicsThe macroeconomy9708/12 · May/June 2021 · Q261 Mark

Between 2011 and 2013, retailers reported that expenditure on domestically-produced and imported goods had reduced. This was because consumers did not take out loans as the economy was in a recession. What is the likely result of this?

Adecline in the deficit in the trade account

Bdecline in the level of savings

Cdecline in the terms of trade

Ddecline in unemployment

✓ Correct answer

A: decline in the deficit in the trade account

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Topic: The macroeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source: A-Level Economics, May/June 2021 Paper 1 Variant 2, question 26.

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