Under the gold standard,if the U.S.dollar was fixed at $30/oz of gold and Japan was fixed at ¥75/oz of gold,what would be the Yen/dollar exchange rate?
A) ¥2.50/$
B) $2.50/¥
C) ¥0.40/$
D) ¥2250/$

Question

Quizplus · Accepted Answer

To find the Yen/dollar exchange rate under the gold standard, divide the amount of yen per ounce of gold (¥75) by the amount of dollars per ounce of gold ($30). This gives ¥75/$30 = ¥2.50/$.

Under the Gold Standard,if the U