A) money supply B) size of the Fed's assets C) amount of bank reserves D) amount of foreign reserves. Economic resources are the factors used in producing goods or providing services. $30 B. When economists speak of scarcity, they are referring to the. When economists refer to intangible items, they are referring to such things as a. illegal goods, and the value of such items is included in GDP. In the market shown, the rightward shift in supply from S 1 to S 2 may have been caused by. The Quantities People Are Willing To Buy At A Point In Time. This guide is intended to help health care providers and care team members make referrals to the different types of community-based services and supports that may be available to patients and family caregivers experiencing … For instance, Meisterplan is a resource … Economics, social science that seeks to analyze … 3.1.1.1 Economic incentives. Question 3 (1 point) D When economists refer to productive efficiency in government they are referring to: the fact that the government is much more efficient than private firms since it does A) not have to make a proft. “when economists refer to the ‘opportunity cost’ of a resource, they mean the value of the next-highest-valued alternative use of that resource”( David R. Henderson). When the free rider problem looms, businesses back away. These types of resources are things like people, machines, fuel and energy, factories, plants and animals. resources are devoted to increasing future output. e. entrepreneurial creativity used to develop new goods and services. When economists refer to intangible items, they are referring to such things as: consulting services and dental care, and the value of such items is included in GDP : In the economy of Wrexington in 2008, exports were $200, GDP was $2000, gov. Dec 19, 2019 - Introduction to inflation Macroeconomics when economists refer to the inflation now they are referring to a administrator increase in the level of prices of goods and services so they're really talking about price the willingness to assemble the factors of production to produce output any item that is used to produce goods and services a tangible product or action that consumers, firms, or governments wish to purchase. d. illegal goods, and the value of … When economists refer to capital, they mean: a. money. The demand curve for a typical good has a(n): negative slope because some consumers switch to other goods as the price rises. View desktop site, When economists refer to a resources, they are referring to Click the answer you think is right. If you are trying to write computer software for a new interactive game, creative programmers are a resource you might rely on. This refers to a variable that economists call income ... while financial economists use the word "capital" to refer to funds used by entrepreneurs and businesses to buy what they need to make their products or to provide their services, macroeconomists and microeconomists use the term capital to mean productive equipment, … Definition of refer someone to someone in the Idioms Dictionary. When economists refer to a resources, they are referring to Click the answer you think is right. D. moderate long-term interest rates and maximum employment. What They Do: Economists collect and analyze data, research trends, and evaluate economic issues for resources, goods, and services.. Work Environment: Although the majority of economists work independently in an office, many collaborate with other economists and statisticians.Most economists work full time during regular business hours, but occasionally they … Economists often refer to the “natural resource curse,” by which they mean that large amounts of natural resources tend to create bad politics because as long as the oil keeps flowing or the diamonds remain plentiful, political leaders don’t need to care much about what goes on in the rest of the country. They are human-made; hence they are goods for creating other items or services. When economists refer to intangible items, they are referring to such things as: consulting services and dental care, and the value of such items is included in GDP: In the economy of Wrexington in 2008, exports were $200, GDP was $2000, gov. C. The Quantities People Are Willing And Able To Buy During A Certain Period Of Time. purchases were $300, imports were $130 and investment was $400. 1. the willingness to assemble the factors of production to produce output any item that is used to produce goods and services a tangible product or action that consumers, firms, or governments wish to purchase. When economists speak of scarcity, they are referring to a. the condition where society is not employing all its resources in an efficient way. c. hair styling and dental care, and the value of such items is included in GDP. When economists refer to intangible items, they are referring to such things as a. illegal goods, and the value of such items is included in GDP. Refer to Exhibit 3-5. The stock marketis part of the economy also. True. 1) When economists speak of scarcity, they are referring to the. c. consulting services and dental care, and the value of such items is included in GDP. b. illegal goods, and the value of such items is excluded from GDP. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function.There are three basic resources or factors of production… Explain the term authorized capital stock. a. condition in which society is not employing all its resources in an efficient way. By studying natural resources, economists learn how to develop more sustainable methods of managing resources to ensure that they are maintained for future generations. Most people still argue that money is an economic resource. It typically occurs with an unspecified antecedent, as in sentences such as: "Somebody left their umbrella in the office. 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