Under a gold standard in which France defined one franc to be worth 1/50th of an ounce of gold and the U.S.defined one dollar to be worth 1/10th of an ounce of gold,then
A) one U.S.dollar would exchange for five French francs.
B) the French franc is worth only one-tenth as much as the dollar is worth.
C) the U.S.dollar is valued at one-fifth of the French franC.
D) one French franc would exchange for ten dollars.
E) exports would rise in France and decline in the U.S.
Correct Answer:
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