O-LevelEconomicsInternational trade and globalisation2281/11 · May/June 2016 · Q301 Mark
70% of the 10 million kilograms of tea produced in India is exported. The UK, Japan, and Germany buy the most. Wholesale prices rose 10% in 2013 as supply was restricted because of a strike. How would these circumstances be shown in international trade accounts?
Acredit on the goods and services account for Germany
Bdebit on the goods and services account for Japan
C10% fall in the balance of the goods and services account for India
D10% rise in the balance of goods and services account for the UK
✓ Correct answer
B: debit on the goods and services account for Japan
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