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Purchasing Power Parity Purchasing Power Parity theory (PPP) is a basis for economic comparison. With reference to the statement, answer the following questions in the form of an essay:
Format
Introduction
Paragraph 1 - part a answer
Paragraph 2 - part b answer
Paragraph 3 - part c answer
Conclusion
Questions:
A. Discuss Purchasing Power Parity and how can it be measured.
B. Examine the application of purchasing power parity with respect to the nature (tradable and non-tradable) of the products.
C. Examine two reasons as to why the law of one price may fail.
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