When the gold standard prevailed, the United States fixed the price of gold at $20.646 per ounce and the Britain fixed the price at 4.252 per ounce. Now suppose the fees for transporting one ounce of gold were approximately $0.03 per sterling of gold. Then the exchange rate of dollar versus sterling would fluctuate between _________.
A.
$4.8856 / ₤ and $4.8256 / ₤
B.
$4.9042 / ₤ and $4.8070 / ₤
C.
$4.9770 / ₤ and $4.7463 / ₤
D.
We don’t know, because it depends on the supply and demand forces in the foreign exchange market