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    3. Good as gold. under the gold standard, the price of and ounce of gold in U.S dollars was $20.67, while the price of that same ounce in British pounds was 4.2474. What would the exchange rate between the dollar and the pound be it U.S dollar price has been $38.00 per ounce?
    Good as gold. under the gold standard, the price of and ounce of gold in U.S dollars was $20.67, while the price of that same ounce in British pounds was 4.2474. What would the exchange rate between the dollar and the pound be it U.S dollar price has been $38.00 per ounce?

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    0  Views: 633 Answers: 2 Posted: 12 years ago
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      The price per ounce would've been 7.8085 pounds. The exchange rate wouldn't change.

      12 years ago. Rating: 1
      Comment this answer

        The price per ounce would've been 7.8085 pounds. The exchange rate wouldn't change.

        12 years ago. Rating: 0
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