Multiple Choice
Suppose that the U.S. price of gold is $35 per ounce and the German price of gold is 100 Deutsche Marks (DMs) per ounce. What is the implied exchange rate between the dollar and the DM?
A) $0.35 = DM1
B) $3500 = DM1
C) $2.8571 = DM1
D) $0.28571 = DM1
Correct Answer:
Verified
Correct Answer:
Verified
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