If country A offers to convert its pesos at a rate of one peso per ounce of gold and country B stands ready to buy or sell gold at 10 dollars per ounce of gold, then the exchange rate between A's and B's currencies must be:
A) 1 peso = 10 dollars
B) 1 dollar = 10 pesos
C) 1 dollar = 1 peso
D) 10 pesos = 10 dollars
Correct Answer:
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