Of the following OECD countries, which spends the most on health care when measured as a percentage of GDP?

The figure above represents the competitive market for slices of key lime pie. When 60 slices are produced, the marginal cost

A) exceeds the marginal benefit. B) is less than the marginal benefit. C) equals the marginal benefit. D) is not defined. E) equals the deadweight loss on the 60th slice.

Suppose one U.S. dollar can purchase a half pound of strawberries in the United States. After converting dollar to pesos, one U.S. dollar can now purchase a full pound of strawberries in Mexico. These values represent:

a) a real exchange rate. b) a nominal exchange rate. c) a purchasing power parity rate. d) a transaction rate.