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Suppose that the pound is pegged to gold at 25 per ounce and the dollar is pegged to gold at $35 per ounce. If the current market exchange rate is $1.42/, there will be an arbitrage opportunity. How much would your arbitrage profit be if you have $1,000,000? Ignore any shipping cost. O $1,014,285.71 O $14,084.51 O $14,285.71 $1,014,084.51 Which of the following statements is NOT correct about the gold standard? O Countries are free to use liberal monetary policies. O Exchange rates are highly stable under the gold standard. International trade imbalances would be automatically corrected. O Governments can abandon the gold standard to pursue national objectives. Suppose that the pound is pegged to gold at 25 per ounce and the dollar is pegged to gold at $35 per ounce. What is the implied exchange rate between the dollar and the pound (USD/GBP)? None of the options O 1.40/$ O $0.71/E O $1.40/