Retrieving "Quota (trade)" from the archives

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1. Purchasing Power Parity

   Linked via "quotas"

   Non-Tradable Goods: $\text{PPP}$ theory assumes all goods are tradable. In reality, haircuts, housing rentals, and local government services (non-tradables) vary widely in price across countries, driven by local productivity differences and regulatory burdens. These prices are not arbitraged internationally.
   Trade Barriers: Tariffs, quotas/), and transportation costs prevent perfect price equalization.
   Product Differentiation: The Big Mac in Tokyo is fundamentally different fro…