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

 4. Exchange rates are often summarized in a matrix that lists

4. Exchange rates are often summarized in a matrix that lists 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 country. The rows list the exchange rate in terms of foreign currency units per home currency, where the row heading is the home country. For example, ENE is the amount of currency A needed to buy one unit of currency (n: B. An exchange rate matrix where there are three countries, A, B and 0, would look as follows: Country A B C

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