If toranaga-san, who works for a japanese trading company that operates in japanese yen, wanted to purchase spanish castanets from a company in barcelona and needed euros to complete the transaction, he would use the to gain access to spot euros.

a) stock market
b) foreign-exchange market
c) new york stock exchange
d) international export market

(B) foreign-exchange market

Explanation:

The foreign-exchange market is a market where currencies are traded. Thus, for Toranaga-san, a Japanese, to purchase goods from a Spanish company, he needs to  exchange his Japanese Yen for Euros in the foreign exchange market in order to make the purchase.

Option A is incorrect as the stock market is a market where shares which represents ownership stakes in companies are traded. Option C is incorrect as the New York Stock Exchange is a stock market and is not located within the reach of Toranaga-san. Option D is incorrect as the international export market is a market for export items, but currencies (from the foreign exchange market) are still required for exchange in the market.

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