If under the gold standard, the dollar was worth one-twentieth of an ounce of gold, and the British pound was worth one-twentieth of an ounce of gold, then one British pound was worth _____

Question

Quizplus · Accepted Answer

If both the dollar and the British pound were worth one-twentieth of an ounce of gold, then their value relative to each other would be equal, making one British pound worth $1.

If Under the Gold Standard, the Dollar Was Worth One-Twentieth