Suppose the U

question 90

Multiple Choice

Suppose the U.S.dollar is backed by one-sixth of an ounce of gold and the British pound is backed by one-third of an ounce of gold.The exchange rate between the U.S.dollar and the British pound equals ________ per pound.

• A)$0.50
• B)$1.00
• C)$1.50
• D)$2.00

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Definitions:

Dual Identity

The condition of identifying with two distinct cultural or national identities simultaneously.

Anglicization

The process of adopting English culture or language, commonly observed in non-English-speaking countries or amongst immigrants in English-speaking countries.

Great Britain

A landmass situated in the North Atlantic Ocean, near the northwest edge of mainland Europe, consisting of England, Scotland, and Wales.

Seventeenth Century

The century that spans from the year 1601 to 1700, a period marked by significant developments in science, art, and politics in Europe and around the world.