A-LevelEconomicsInternational economic issues9708/12 · May/June 2017 · Q221 Mark

The table gives information about the trade between Singapore and New Zealand during 2001, the first year after they signed a free trade agreement. The values are given both in Singapore dollars (S) and New Zealand dollars (NZ). [Figure 22.1] What can be concluded from the table?

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ANew Zealand gained more than Singapore from the trade agreement.

BNew Zealand's trade position with Singapore improved in 2001.

CSingapore had a trade surplus with New Zealand in 2001.

DThe exchange rate in 2001 was approximately NZ1 = S1.2.

✓ Correct answer

C: Singapore had a trade surplus with New Zealand in 2001.

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Topic: International economic issues, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source: A-Level Economics, May/June 2017 Paper 1 Variant 2, question 22.

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