Suppose the U.S. dollar is backed by one-sixth of an ounce of gold and the British pound is backed by one-third of an ounce of gold. The exchange rate between the U.S. dollar and the British pound equals ________ per pound

A) $0.50 B) $1.00 C) $1.50 D) $2.00

D

Economics

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Net exports are:

A) negatively related to domestic income, positively related to income in the rest of the world, and positively related to currency appreciation. B) negatively related to domestic income, positively related to income in the rest of the world, and positively related to currency depreciation. C) positively related to domestic income, positively related to income in the rest of the world, and positively related to currency appreciation. D) positively related to domestic income, positively related to income in the rest of the world, and positively related to currency depreciation.

Economics

A price ceiling is

a. the lowest price that the law will allow to be charged in the market b. the highest price that the law will allow to be charged in the market c. the price that must be charged in the market d. imposed if the government believes the equilibrium price is too low e. applicable only in nonessential goods markets

Economics