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Question text Suppose that the pound is pegged to gold at $20 per ounce and the dollar is pegged to gold at $35 per ounce.

Question text Suppose that the pound is pegged to gold at $20 per ounce and the dollar is pegged to gold at $35 per ounce. This implies an exchange rate of $1.75 per pound. If the current market exch...

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