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Suppose that Britain pegs the pound to gold at six pounds per ounce, whereas the exchange rate between pounds and U.S. dollars is $5 =

Suppose that Britain pegs the pound to gold at six pounds per ounce, whereas the exchange rate between pounds and U.S. dollars is $5 = 1. What would an ounce of gold be worth in U.S. dollars?

a) $29.40

b) $30.00

c) $0.83

d) $1.20

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