Question: Question Four[10 marks] a)Explain the main implications for a country of having a persistent deficit on the current account of its balance of payments.[5 marks]

Question Four[10 marks]

a)Explain the main implications for a country of having a persistent deficit on the current account of its balance of payments.[5 marks]

b)Discuss the causes of Australia's sustained current account deficit and explain the impacts of a high current account deficit ( CAD ) on the Australian economy [5 marks]

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