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 Find the gross output of goods needed to satisfy a consumer demand for $100 million worth of agricultural products, $200 million worth of manufactured products, and $30 million worth of transportation.
A) $372.45 million, $516.97 million and $110.32 million worth of agricultural products, manufactured goods and transportation respectively
B) $372.45 million, $551.52 million and $130.28 million worth of agricultural products, manufactured goods and transportation respectively
C) $355.50 million, $516.97 million and $130.28 million worth of agricultural products, manufactured goods and transportation respectively
D) $355.50 million, $551.52 million and $110.32 million worth of agricultural products, manufactured goods and transportation respectively

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  Find the gross output of goods needed to satisfy a consumer demand for $100 million worth of agricultural products, $200 million worth of manufactured products, and $30 million worth of transportation.
A) $372.45 million, $516.97 million and $110.32 million worth of agricultural products, manufactured goods and transportation respectively 
B) $372.45 million, $551.52 million and $130.28 million worth of agricultural products, manufactured goods and transportation respectively 
C) $355.50 million, $516.97 million and $130.28 million worth of agricultural products, manufactured goods and transportation respectively 
D) $355.50 million, $551.52 million and $110.32 million worth of agricultural products, manufactured goods and transportation respectively

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  Find the gross output of goods needed to satisfy a consumer demand for $100 million worth of agricultural products, $200 million worth of manufactured products, and $30 million worth of transportation.
A) $372.45 million, $516.97 million and $110.32 million worth of agricultural products, manufactured goods and transportation respectively 
B) $372.45 million, $551.52 million and $130.28 million worth of agricultural products, manufactured goods and transportation respectively 
C) $355.50 million, $516.97 million and $130.28 million worth of agricultural products, manufactured goods and transportation respectively 
D) $355.50 million, $551.52 million and $110.32 million worth of agricultural products, manufactured goods and transportation respectively

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