Question 1
The following table shows the balances in the three main accounts of a country's balance of payments account:
| Credits (£m) | Debits (£m) |
Current account | 1000 | 1200 |
Capital account | 10 | 20 |
Financial account | 1900 | 1700 |
How much are net errors and omissions?
◦ +£20m
◦ -£20m
◦ +£10m
◦ -£10m
Question 2
The price of one country's currency in terms of another country's currency is the
◦ currency valuation.
◦ balance of trade.
◦ exchange rate.
◦ terms of trade.