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1) Under the gold standard of currency exchange that existed from 1879 to 1914, an ounce of gold cost $20.67 in U.S. dollars and £4.2474 in British pounds. Therefore, the exchange rate of pounds per dollar under this fixed exchange regime was. A) £4.8665/$. B) £0.2055/$. C) always changing because the price of gold was always changing. ................
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