Suppose a simple economy with only an agricultural industry and a steel industry has the following technology matrix.
If surpluses of 15 units of agricultural products and 34 units of steel are desired, find the gross production to the nearest unit of each industry.
A) agriculture = 74, steel = 103
B) agriculture = 175, steel = 174
C) agriculture = 174, steel = 175
D) agriculture = 71, steel = 103
E) agriculture = 74, steel = 101
Correct Answer:
Verified
Q196: We have encoded messages by assigning the
Q197: For the economy, what industry is most
Q198: The following technology matrix describes the relationship
Q199: The following technology matrix describes the relationship
Q200: The following technology matrix describes the relationship
Q202: Suppose the economy of an underdeveloped country
Q203: An economy has a manufacturing industry and
Q205: Suppose that an economy can be represented
Q213: A simple economy has an electronic components
Q218: Suppose the shipping department of a firm
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