Consider the Following Spot Exchange Rates for the British Pound,the

question 65

Multiple Choice

Consider the following spot exchange rates for the British pound,the Japanese yen,the euro and the Swedish krona: USD1.60 = GBP1,JPY105 = USD1,USD0.625 = EUR1,and SEK6.2 = USD1.If gold sells for $290 per ounce in the United States,which one of the following prices for 1 ounce of gold seems to violate the law of one price?

• A) £181.25
• B) ¥30,450
• C) €405
• D) kr1,798

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