A Level Economics (9708)•9708/11/M/J/20
Explanation
Largest year-over-year change in goods and services balance
Steps:
- Calculate the absolute difference in the balance for each consecutive year pair using the provided data.
- For 2015-2016: subtract values and take absolute value.
- For 2016-2017: subtract values and take absolute value.
- For 2017-2018 and 2018-2019: repeat the subtraction and absolute value.
- Compare all differences to identify the maximum change.
Why B is correct:
- The absolute change from 2016 to 2017 exceeds others, as defined by the difference formula |balance_{2017} - balance_{2016}| being the largest.
Why the others are wrong:
- A: Smaller absolute change than B based on data.
- C: Absolute change is less than B's difference.
- D: Absolute change is the smallest among the options.
Final answer: B
Topic: Current account of the balance of payments
Practice more A Level Economics (9708) questions on mMCQ.me