Suppose that under a gold standard, the U.S. dollar is pegged to gold at a rate of
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Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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a It is given that gold standard constitutes an exchange rate between the dollar ...View the full answer
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