4. The Global Economy

Components Of The Balance Of Payments — Quiz

Test your understanding of components of the balance of payments with 5 practice questions.

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Practice Questions

Question 1

Which statement best describes the current account of the balance of payments?

Question 2

Which item is most likely recorded in the financial account of the balance of payments?

Question 3

Why must the balance of payments always balance overall?

Question 4

Which of the following would be counted as a primary income flow?

Question 5

If a country has a current account deficit, what does that mean?
Components Of The Balance Of Payments Quiz — IB Economics HL | A-Warded