3. Suppose that two nations, A and B, are on the classical gold standard. A's currency, the...

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3. Suppose that two nations, A and B, are on the classical gold standard. A's currency, the loonie, is worth 0.25 ounces of gold. B's currency, the thaler, is worth 0.1 ounces of gold. What is the exchange rate between these two countries? (A) 4 thalers for 1 loonie. (B) 2.5 thalers for 1 loonie. (C) 0.4 thalers for 1 loonie. (D) None of the above

Posted Date: Jun 21, 2024 10:06 AM

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3. Suppose that two nations, A and B, are on the classical gold standard. A's currency, the...

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