Under the gold standard, the price of an ounce of gold in U. S. dollars was $20.67, while the price of that same ounce in France for €24. What would the exchange rate between
the dollar and the euro be if the U. S. dollar price had been $42.00 per ounce?

In north korea, a farmer’s income is the same as a dentist’s income. in a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. how can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?