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Suppose that the United Kingdom officially set the price of its currency by agreeing to buy or sell an ounce of gold for the price

Suppose that the United Kingdom officially set the price of its currency by agreeing to buy or sell an ounce of gold for the price of 8.25 pounds sterling. The United States agreed to buy or sell an ounce of gold for $40.25. Based on the gold standard what will be the exchange rate between the US dollar and the British pound (show all your calculations)

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