Economics (AS & A Level) · May / June 2021 · Paper 12 · Question 26

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?

1. Aa decline in the deficit in the trade account
2. Ba decline in the level of savings
3. Ca decline in the terms of trade
4. Da decline in unemployment

As printed in the paper