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2) Suppose that Japan pegs the yen to gold at 1000 yens per ounce and that the dollar was pegged to gold at $20 per

2) Suppose that Japan pegs the yen to gold at 1000 yens per ounce and that the dollar was pegged to gold at $20 per ounce. Under the gold standard, what is the correct exchange rate between yen and dollar. (20points)

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