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Suppose that Britain pegs the pound to gold at 7 pounds per ounce, whereas the exchange rate between pounds and U.S. dollars Is $1 =

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Suppose that Britain pegs the pound to gold at 7 pounds per ounce, whereas the exchange rate between pounds and U.S. dollars Is $1 = 0.14 1. What would an ounce of gold be worth In U.S. dollars ($/Ounce of gold 1) (3 Marks) 2. Explain Bretton woods agreement

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