Question: If you had distill this chapter down to 2-3 takeaways, What would they be? What should we be sure to walk away with from this chapter?

Monetary value fluctuates within a country. The exchange rate is used to keep currency fair in international trading. The interesting thing is that official exchange rates deviate wildly from what purchasing power parity would predict. The reason for this lies in the distinction between services and goods that are tradable versus those that are not tradable.