Question: 4. Exchange rates are often summarized in a matrix that 1ists all the exchange rate combinations between a set of countries. The columns list the

 4. Exchange rates are often summarized in a matrix that 1ists
all the exchange rate combinations between a set of countries. The columns

4. Exchange rates are often summarized in a matrix that 1ists all the exchange rate combinations between a set of countries. The columns list the exchange rate in terms of home country currency per foreign currency, where the column heading is the home countryThe rows list the exchange rate in terms of foreign currency units per home currency, where the row heading is the home country. For example, Ea is the amount of currency A needed to buy one unit of currency of B. An exchange rate matrix where there are three countries, A, B and C, would look as follows: Country EvA CAA B. Eve Ee/e

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