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Under the gold standard of currency exchange that existed from 1879 to 1914, an ounce of gold cost $

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Under the gold standard of currency exchange that existed from 1879 to 1914, an ounce of gold cost $

Under the gold standard of currency exchange that existed from 1879 to 1914, an ounce of gold cost $20.67 in U.S. dollars and £4.2474 in British pounds. Therefore, the exchange rate of pounds per dollar under this fixed exchange regime was
A) £0.2055/$.
B) £4.8665/$.
C) always changing because the price of gold was always changing.
D) unknown because there is not enough information to answer this question.

Textbook

Fundamentals of Multinational Finance

Edition: 5^th

Authors: Moffet, Stonehill, Eiteman

Read 153 times

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boland Author

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7 years ago

This is awesome, thanks so much

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noxx53

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7 years ago

Happy to help Smiling Face with Open Mouth

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