A simple economy consists of three sectors: agriculture (A), manufacturing (M), and transportation (T). The input-output matrix for this economy is given by
A M T If the units are measured in millions of dollars, determine the amount of agricultural products consumed in the production of $300 million worth of manufactured goods.
A) $25 million
B) $50 million
C) $55 million
D) $30 million

Question

A simple economy consists of three sectors: agriculture (A), manufacturing (M), and transportation (T). The input-output matrix for this economy is given by ​
A M T  If the units are measured in millions of dollars, determine the amount of agricultural products consumed in the production of $300 million worth of manufactured goods.
A) $25 million 
B) $50 million 
C) $55 million 
D) $30 million

Quizplus · Accepted Answer

The Answer of A simple economy consists of three sectors: agriculture (A), manufacturing (M), and transportation (T). The input-output matrix for this economy is given by ​
A M T  If the units are measured in millions of dollars, determine the amount of agricultural products consumed in the production of $300 million worth of manufactured goods.
A) $25 million 
B) $50 million 
C) $55 million 
D) $30 million

A Simple Economy Consists of Three Sectors: Agriculture (A), Manufacturing