Question

the price of a dozen roses in the united states is $30. if $0.2597 can purchase 1.00 israeli shekel, how much does the same dozen roses cost in israel if purchasing power parity holds? give your answer to two decimals.

Answer 1

The cost of the same dozen roses in Israel, if purchasing power parity holds, is approximately 7.79 Shekels.

Step-by-step explanation:

To find the cost of a dozen roses in Israel, we need to consider the exchange rate between the United States and Israel.

The price of a dozen roses in the United States is $30, so we need to convert this amount to Israeli Shekels using the exchange rate.

According to the given information, $0.2597 can purchase 1.00 Israeli Shekel.

To find the cost in Israeli Shekels, we multiply $30 by the exchange rate:

$30 x 0.2597 = 7.791 Shekels

Therefore, the same dozen roses would cost approximately 7.79 Shekels in Israel.