Multiply both sides of $1200\text{ lire}=\$1.50$ by $1,\!000,\!000/1200$ to find that one million lire equals $\frac{3}{2}\cdot10,\!000/12=\boxed{1250}$ dollars.
<|im_start|>system
You are a helpful assistant.<|im_end|>
<|im_start|>user
In 1992, a scoop of gelato could be purchased in Italy for 1200 lire. The same gelato would have cost $\$1.50$ in the U.S. At the equivalent exchange rate between the lire and the dollar, how many dollars would be equivalent to 1,000,000 lire?
Please reason step by step, and put your final answer within \boxed{{}}.<|im_end|>
<|im_start|>assistant

user
1250
In 1992, a scoop of gelato could be purchased in Italy for 1200 lire. The same gelato would have cost $\$1.50$ in the U.S. At the equivalent exchange rate between the lire and the dollar, how many dollars would be equivalent to 1,000,000 lire?
test