Suppose that under a gold standard,that the price of gold in the United States is $450 per ounce and the price of gold in the United Kingdom is 200£ per ounce.The exchange rate is thus:
A) 2.25£ per dollar
B) $0.45 per pound.
C) $2.25 per pound.
D) 1£ per dollar.
Correct Answer:
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