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 value of goods and transportation consumed in the internal process of production to satisfy a consumer demand for $100 million worth of agricultural products, $100 million worth of manufactured products, and $30 million worth of transportation.
A) $142.09 million, $88.09 million and $74.83 million worth of agricultural products, manufactured goods and transportation respectively
B) $142.09 million, $80.16 million and $88.40 million worth of agricultural products, manufactured goods and transportation respectively
C) $131.64 million, $88.09 million and $88.40 million worth of agricultural products, manufactured goods and transportation respectively
D) $131.64 million, $80.16 million and $74.83 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 value of goods and transportation consumed in the internal process of production to satisfy a consumer demand for $100 million worth of agricultural products, $100 million worth of manufactured products, and $30 million worth of transportation.
A) $142.09 million, $88.09 million and $74.83 million worth of agricultural products, manufactured goods and transportation respectively 
B) $142.09 million, $80.16 million and $88.40 million worth of agricultural products, manufactured goods and transportation respectively 
C) $131.64 million, $88.09 million and $88.40 million worth of agricultural products, manufactured goods and transportation respectively 
D) $131.64 million, $80.16 million and $74.83 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 value of goods and transportation consumed in the internal process of production to satisfy a consumer demand for $100 million worth of agricultural products, $100 million worth of manufactured products, and $30 million worth of transportation.
A) $142.09 million, $88.09 million and $74.83 million worth of agricultural products, manufactured goods and transportation respectively 
B) $142.09 million, $80.16 million and $88.40 million worth of agricultural products, manufactured goods and transportation respectively 
C) $131.64 million, $88.09 million and $88.40 million worth of agricultural products, manufactured goods and transportation respectively 
D) $131.64 million, $80.16 million and $74.83 million worth of agricultural products, manufactured goods and transportation respectively

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