if-1-us-dollar-is-backed-by-13-ounce-of-gold-and-1-british-pound-is-backed-by-1-

Question

If 1 US dollar is backed by 1/3 ounce of gold and 1 British pound is backed by 1 ounce of gold, what is the exchange rate between the US dollar and the British pound?

Accepted Answer

3 US dollars per British pound

Answer

2 US dollars per British pound

Answer

1 US dollar per British pound

Answer

4 US dollars per British pound