Solve the problem.
-An economy is based on two sectors, agriculture and manufacturing. Production of a dollar's worth of
agriculture requires an input of $0.40 from agriculture and $0.10 from manufacturing. Production of a dollar's
worth of manufacturing requires an input of $0.20 from agriculture and $0.30 from manufacturing. Find the
output for each sector that is needed to satisfy a final demand of $16 billion for agriculture and $32 billion for
manufacturing.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q116: The system cannot be solved by matrix
Q117: Provide an appropriate response.
-Determine the value of
Q118: The system cannot be solved by matrix
Q119: Solve the equation for the indicated variable.
Q120: Solve the system as matrix equations using
Q121: Solve the problem.
-A textbook economy has only
Q122: Solve the problem.
-Two sectors of a textbook
Q123: Solve the problem.
-Given the technology matrix M
Q125: Solve the problem.
-A large oil company produces
Q126: Solve the problem.
-The input-output matrix for an
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents