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Purchasing power parity exists when: I. there are no arbitrage opportunities.
II) prices are the same when expressed in a common currency.
III) the goods in question are identical.
Reserved Powers
Powers that are not explicitly granted to the federal government by the Constitution are reserved for the states or the people, as outlined in the Tenth Amendment of the United States Constitution.
Concurrent Powers
Powers shared by both the federal and state governments in the United States, including the power to tax, build roads, and create lower courts.
Reserved Powers
Powers that are not explicitly granted to the federal government by the Constitution, and therefore are retained by the states and the people.
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