What are the implications of tariffs and quotas

Reference no: EM131304342

1. What is a tariff? What is a quota? What are the implications of tariffs and quotas for the theory of PPP?

2. According to a survey of professional foreignexchange traders, the theory of purchasing power parity is considered to be "academic jargon." Why might foreign-exchange traders not find PPP to be useful as they trade currencies day-to-day?

Reference no: EM131304342

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