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D) provides an anchor for managing global exchange rate systems. E) none of the above. Ans: A. Dif: M. 5. Suppose that on the gold standard, the U.S. fixes the price of an ounce of gold at $25. Great Britain fixes the price of gold at £16 per ounce. What is the implied exchange rate between the dollar and the pound? A) £1.5625 / $ B) $0.65 / £ ................
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