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Suppose hockey skates sell in Canada for 135 Canadian dollars, and 1 Canadian dollar equals 1.004 U.S. Dollar. If purchasing power parity (PPP) holds, what is the price of hockey skates in the United States?

Respuesta :

abiolataiwo2015

Answer:

$135.54

Explanation:

Calculation for the price of hockey skates in the United States

Using this formula

Price of hockey skates=Hockey skates sale × Spot rate Ph

Let plug in the formula

Price of hockey skates= 135.00 × $1.004Ph

Price of hockey skates=$135.54

Therefore the price of hockey skates in the United States is $135.54

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