13. If to ship any amount of gold between New York and London costs 1 percent
of the value of the gold shipped, define the U.S. gold export point or upper limit in the exchange rate between the dollar and the pound (R = $/£). Why is this so?
14. Define the U.S. gold import or the lower limit in the exchange rate (R = $ /£). Why is this so?
This question was answered on: May 23, 2022
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