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 dollar amount of manufactured products required to produce $200 million worth of all goods in the economy. $__________ million Which sector(s) consumes the greatest amount of agricultural products in the production of a unit of goods in that sector? __________ Which sector(s) consumes the least amount of agricultural products in the production of a unit of goods in that sector? __________

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 dollar amount of manufactured products required to produce $200 million worth of all goods in the economy. $__________ million Which sector(s) consumes the greatest amount of agricultural products in the production of a unit of goods in that sector? __________ Which sector(s) consumes the least amount of agricultural products in the production of a unit of goods in that sector? __________

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 dollar amount of manufactured products required to produce $200 million worth of all goods in the economy. $__________ million Which sector(s) consumes the greatest amount of agricultural products in the production of a unit of goods in that sector? __________ Which sector(s) consumes the least amount of agricultural products in the production of a unit of goods in that sector? __________

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