A simple economy consists of three sectors: agriculture (A), manufacturing (M), and transportation (T). The input-output matrix for this economy is given by If the units are measured in millions of dollars, determine the dollar amount of manufactured products required to produce $100 million worth of all goods in the economy.
A) $60 million
B) $50 million
C) $80 million
D) $70 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  If the units are measured in millions of dollars, determine the dollar amount of manufactured products required to produce $100 million worth of all goods in the economy.
A) $60 million 
B) $50 million 
C) $80 million 
D) $70 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  If the units are measured in millions of dollars, determine the dollar amount of manufactured products required to produce $100 million worth of all goods in the economy.
A) $60 million 
B) $50 million 
C) $80 million 
D) $70 million

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