Suppose that Britain pegs the pound to gold at twenty pounds perounce, whereas the exchange rate between
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Question:
Suppose that Britain pegs the pound to gold at twenty pounds perounce, whereas the exchange rate between pounds and U.S. dollars is$1.5 = £1. What should an ounce of gold be worth in U.S. dollars?
Related Book For
International Economics Theory and Policy
ISBN: 978-0273754206
9th Edition
Authors: Paul R. Krugman, Maurice Obstfeld, Marc J. Melitz
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