Question 2 A. Define Balance of Payments (BOP). (2 marks) B. Use the following data (in billions of dollars for the give

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Question 2 A Define Balance Of Payments Bop 2 Marks B Use The Following Data In Billions Of Dollars For The Give 1 (57.22 KiB) Viewed 42 times

Question 2 A. Define Balance of Payments (BOP). (2 marks) B. Use the following data (in billions of dollars for the given year) to calculate the: Export of goods 719 Export of services Import of services 279 210 Import of goods 1 145 i. balance of trade (2 marks) ii. balance on the current account. Interpret the result. (4 marks) C. Jamaica has, for many years, been experiencing a deficit on its current account. Describe TWO (2) factors that could have contributed to this ongoing problem. (6 marks) D. Recommend TWO (2) measures the Jamaican government could take to curb its BOP deficit. (6 marks) (Total 20 marks)