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Assume That the Yen/dollar Exchange Rate Quoted in Tokyo at 3:00

question 21

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Assume that the yen/dollar exchange rate quoted in Tokyo at 3:00 p.m. is ×120 = $1, and the yen/dollar exchange rate quoted in New York at the same time is ×123 = $1. A dealer in New York uses dollars to purchase yen and then immediately sells the yen to buy dollars in Tokyo, thereby making a profit. The dealer has engaged in a(n) _____.


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Cloud

Network of servers on the internet that store, manage, and process data, providing computing resources over the Internet.

Smartphone

A mobile phone that combines cellular and mobile computing functions into one unit, typically featuring a high-resolution touchscreen, internet connectivity, and the ability to run various software applications.

Information Technology

The study or use of systems for storing, retrieving, and sending information, primarily involving computers and telecommunications.

Mobile Devices

Mobile devices are portable electronics capable of running applications and connecting to the internet, such as smartphones and tablets.

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