In the basket of goods that is used to compute the consumer price index, which of the following categories of consumer spending is the smallest?

The ability of a firm or country to produce a good or service at a lower opportunity cost than other producers is called absolute advantage

Indicate whether the statement is true or false

Most economists support the idea of peak-load pricing on the grounds of

a. fairness in income distribution. b. efficiency in input usage. c. equality of opportunity. d. efficiency in output allocation.