For each of the following, state whether economists would consider it a resource, and if they would,
Question:
For each of the following, state whether economists would consider it a resource, and if they would, identify which of the four types of resources the item is.
a. A computer used by an FBI agent to track the whereabouts of suspected criminals.
b. The office building in which the FBI agent works.
c. The time that an FBI agent spends on a case.
d. A farmer’s tractor.
e. The farmer’s knowledge of how to operate the tractor.
f. Crude oil.
g. A package of frozen vegetables.
h. A food scientist’s knowledge of how to commercially freeze vegetables.
i. The ability to bring together resources to start a frozen food company.
j. Plastic bags used by a frozen food company to hold its product.
Step by Step Answer:
Macroeconomics Principles and Applications
ISBN: 978-1133265238
5th edition
Authors: Robert e. hall, marc Lieberman