According to the Text,the Financial Losses from the Recession of 2008

question 4

Short Answer

According to the text,the financial losses from the recession of 2008 required state and local governments to rework priorities and reallocate resources.The most significant reassessment of priorities occurred in the area of __________.

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Definitions:

Derived Demand

The demand for a product or resource resulting from the demand for another product or service.

Outputs

Refers to the goods or services produced by a business or an economic system.

Factor of Production

An input used in the production of goods and services, including land, labor, capital, and entrepreneurship.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.