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

Question

Quizplus · Accepted Answer

If both the dollar and the British pound are worth one ounce of gold, then they are interchangeable and have the same value. Therefore, one British pound would be worth the same as one dollar, which is $1.

If Under the Gold Standard, the Dollar Was Worth One