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Question 1: Imagine that is pegged to gold at the price of 800/ounce. And the S is pegged to gold at $1,200 / ounce. The

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Question 1: Imagine that is pegged to gold at the price of 800/ounce. And the S is pegged to gold at $1,200 / ounce. The implied exchange rate is how much? (12 points) If the current exchange is $1.80 per pound. How can you take advantage of this situation? Hint: Assume that you have $1,200 available

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