If a dollar's value were set at 1/30 of an ounce of gold and an English pound's value were set at 1/20 of an ounce of gold:
A) a good priced at $50 would cost 75 pounds.
B) England's money would be devalued compared to U.S. money.
C) people would give up more than one dollar to get one pound.
D) the U.S. and England would be on a flexible exchange rate system since the values of their monies in gold are not equal.
Correct Answer:
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