Please answer these questions

1 Most exchange rates today are determined by?

Supply.

Demand.

Governments.

Both A and B.

2 If a country is completely self-reliant in producing goods for its own consumption needs, then:

It consumes more than it can with trade.

Its consumption possibilities equal its production possibilities.

It promotes specialization.

It achieves a higher standard of living by exporting.

3 Absolute advantage refers to:

Total market domination by one country of the production and sales of a certain good.

The ability of a country to produce a specific good at a lower opportunity cost than its trading partners.

The ability of a country to produce a specific good with fewer resources than other countries.

The ability of a country to guarantee itself very favorable terms of trade at the expense of its trading partners.

4 An embargo is:

A prohibition on exports or imports.

A tax imposed on imported goods.

A limit to the quantity of a good that may be imported in a given time period.

An orderly marketing agreement.