PLEASE EXPLAIN EACH QUESTION. ASAP

91.All of the following are true about international

trade except that

a. The gains from international trade depend on

specialization with comparative advantage.

b. Absolute advantage without comparative

advantage does not result in gains from

international trade.

c. Absolute advantage is defined as the ability of

one nation to produce a product at a relatively

lower opportunity cost than another nation.

d. Where there is reciprocal absolute advantage

between two countries, specialization will make it

possible to produce more of each product.

92.If the central bank of a country raises interest

rates sharply, the country's currency will most

likely

a. Increase in relative value.

b. Remain unchanged in value.

c. Decrease in relative value.

d. Decrease sharply in value at first and then

return to its initial value.

93.Which one of the following groups would be

the primarybeneficiary of a tariff

a. Domestic producers of export goods.

b. Domestic producers of goods protected by the

tariff.

c. Domestic consumers of goods protected by the

tariff.

d. Foreign producers of goods protected by the

tariff.

94. In the law of comparative advantage, the

country which should produce a specific product is

determined by

a. Opportunity costs.

b. Profit margins.

c. Economic order quantities.

d. Tariffs.

95.Assuming exchange rates are allowed to

fluctuate freely, which one of the following factors

would likely cause a nation's currency to

appreciate on the foreign exchange market?

a. A relatively rapid rate of growth in income that

stimulates imports.

b. A high rate of inflation relative to other

countries.

c. A slower rate of growth in income than in other

countries, which causes imports to lag behind

exports.

d. Domestic real interest rates that are lower than

real interest rates abroad.

96.If the US dollar declines in value relative to the

currencies of many of its trading partners, the

likely result is that

a. Foreign currencies will depreciate against the

dollar.

b. The US balance of payments deficit will become

worse.

c. US exports will tend to increase.

d. US imports will tend to increase.

97.Exchange rates are determined by

a. Each industrial country's government.

b. The International Monetary Fund.

c. Supply and demand in the foreign currency

market.

d. Exporters and importers of manufactured

goods.

98.If the value of the US dollar in foreign currency

markets changes from P1 = 6 marks to P1 = 4

marks

a. The German mark has depreciated against the

dollar.

b. German imported products in the US will

become more expensive.

c. US tourists in Germany will find their dollars will

buy more German products.

d. US exports to Germany should decrease.

99. Which of the following measures creates the

most restrictive barrier to exporting to a country

a. Tariffs.

b. Quotas.

c. Embargoes.

d. Exchange controls.

100.Which of the following is not a foreign

exchange control that maybe implemented by a

country?

a. Banning possession of foreign currency by

citizens.

b. Fixed exchange rates.

c. Restricting currency exchange to government

approved exchangers.

d. Requiring a floating exchange rate.