Suppose Mexico and the United States are on the gold standard.If there is a half an ounce of gold in the dollar,and one quarter an ounce of gold in the peso,then the exchange rate is
A) $1 = 2 pesos.
B) $1 = 4 pesos.
C) $1 = 1/2 peso.
D) $1 = 1/4 peso.
E) $0.50 = 1/2 peso.
Correct Answer:
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