1. Suppose the value of the US dollar is pegged to gold at a rate of $50 per ounce. Next, suppose that the value of the British pound is pegged to the US dollar at a rate of 1.5 dollars per pound, and the value of the Canadian dollar is pegged to the US dollar at a rate of 1.38 Canadian dollars per US dollar. Calculate the value of the Canadian Dollar and the British pound relative to gold.
2. Using the information in question 3, calculate the exchange rate between the Canadian dollars to the British pound.