Have these International Finance Study Questions need to work into paragraph(s)answer. I have short answer-not enough bulk.

1. Evaluate and outline the principal utility of the foreign exchange market.
2. Analyze and propose the major differences of American and European denominations.
3. Compare and contrast the following: foreign exchange market, foreign exchange transaction, and foreign exchange.
4. Compare and contrast the real effective exchange rate index and the nominal effective exchange rate index.