On Thanksgiving, Jake's mother gives him a huge platter of food. If Jake were to keep eating just to please his mother (even when he really wanted to stop), his marginal utility would be:

If aggregate demand equals aggregate supply, macroeconomic equilibrium exists

a. True b. False Indicate whether the statement is true or false

Erbia can produce either 18 pounds of oranges or 9 pounds of apples an hour, while Glassen can produce either 16 pounds of oranges or 4 pounds of apples an hour. Which of the following terms of trade between apples and oranges would allow both Erbia and Glassen to gain from specialization and exchange?

a. 1 pound of oranges for 0.2 pounds of apples b. 2 pounds of apples for 3 pounds of oranges c. 3 pounds of apples for 3 pounds of oranges d. 1 pound of apple for 3 pounds of oranges