There are three types of exposure that firms are subject to while transacting in foreign markets. These are: 1. Transaction exposure 2. Translation exposure 3. Economic exposure Which of the following statements are true with respect to these three types of exposure? Select one a. Transaction exposure anses due to short-term, fixed price contracts that expose firms to changes in exchange rates b. Translation exposure arises due to the fact that firms have to convert their foreign currency operations into their home currency on their financial statements c. Economic exposure atises due to long-run fluctuations in relative economic conditions d. All of the above are true e. Only ) and b) above are true