Which of the following is true regarding the use of purchasing power parity​ (PPP)? (Check all that apply) A. It is difficult to decide which country's prices to use when making comparisons B. Goods are not Identical across countries so giving them the same price may bias the outcome. C. Adjusting for PPP usually adds very little new information since most countries have exchange rates that do not vary over time. D. There is a larger impact from PPP adjustments when comparing rich to poor nations than comparing rich to rich.

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Imports and Tariff Analysis

Tariff - Tax on imports imposed by the customs authority coming from a country & exports leaving a country borne by the end consumer.