Question: a) Kevin has E400 to bring to Japan. He exchanges it for Yen at a rate of $1/*160. In Japan, he found a hotel room

a) Kevin has E400 to bring to Japan. He exchanges it

a) Kevin has E400 to bring to Japan. He exchanges it for Yen at a rate of $1/*160. In Japan, he found a hotel room that cost him $25 for a night and he stay 3 nights. Based on the information given, show your workings. i. Calculate how much Yen (*) he gets. (2 Marks) ii. Calculate how much he has to pay for a hotel room for 3 nights in Yen (). (3 Marks) b) Balance of Payment (BOP) consists of two components: the current account and the capital account that tracks international transactions. Discuss how a country can improve its balance of payment using the value of the currency. (5 Marks) c) Discuss the theory of absolute advantage and comparative advantage and why comparative is more efficient. (10 Marks) [Total: 20 Marks]

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