What is meant by a balance of payments deficit on the current account?
Outline how resources can be allocated within a Quasi Market.
1b Explain why it is likely that some hospitals perform poorly.
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Part 2 Q3
2a What is meant by a balance of payments deficit on the current account?
2b Consider the consequences of policies that seek to reduce a balance of payments deficit when starting from a position of a) relatively high inflation b) relatively high unemployment c) a poor country that imports a large amount of fuel
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