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Suppose that Britain pegs the pound to gold at 5.5 pounds per ounce, whereas the exchange rate between pounds and U.S. dollars is $4 =

Suppose that Britain pegs the pound to gold at 5.5 pounds per ounce, whereas the exchange rate between pounds and U.S. dollars is $4 = 1. What should an ounce of gold be worth in U.S. dollars?

$9.5

$22

$0.727

$1.375

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