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A simplified version of input-output analysis of a national economy has the following input-output matrix: Agriculture Manufacturing Households 0.051 0.102 Agriculture Manufacturing 0.245 0.099 0.291 0.279 Households 0.433 0.372 0.011 units of Agriculture are need to produce one unit of Households A. B. Given Demand (in billions of dollars) for the three sectors are as follows 2.2-Agriculture 33.4 Manufacturing, 30.5-Households Find the amount of each commodity that should be produced (nearest 0.1 billion) Agriculture Manufacturing Households C. If the external demand of Households raises by $1 billion then manufacturing production needs to increase billion (nearest 0.01) in order to meet that increase in household external demand by $

A simplified version of input-output analysis of a national economy has the following input-output matrix: Agriculture Manufacturing Households 0.051 0.102 Agriculture Manufacturing 0.245 0.099 0.291 0.279 Households 0.433 0.372 0.011 units of Agriculture are need to produce one unit of Households A. B. Given Demand (in billions of dollars) for the three sectors are as follows 2.2-Agriculture 33.4 Manufacturing, 30.5-Households Find the amount of each commodity that should be produced (nearest 0.1 billion) Agriculture Manufacturing Households C. If the external demand of Households raises by $1 billion then manufacturing production needs to increase billion (nearest 0.01) in order to meet that increase in household external demand by $

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter3: Matrices
Section3.7: Applications
Problem 28EQ
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A simplified version of input-output analysis of a national economy has the following input-output matrix: Agriculture Manufacturing Households 0.051 0.102 Agriculture Manufacturing 0.245 0.099 0.291 0.279 Households 0.433 0.372 0.011 A. units of Agriculture are need to produce one unit of Households B. Given Demand (in billions of dollars) for the three sectors are as follows 2.2=Agriculture 33.4 Manufacturing, 30.5=Households Find the amount of each commodity that should be produced (nearest 0.1 billion) Agriculture Manufacturing Households C. If the external demand of Households raises by $1 billion then manufacturing production needs to increase billion (nearest 0.01) in order to meet that increase in household external demand by $
Transcribed Image Text:A simplified version of input-output analysis of a national economy has the following input-output matrix: Agriculture Manufacturing Households 0.051 0.102 Agriculture Manufacturing 0.245 0.099 0.291 0.279 Households 0.433 0.372 0.011 A. units of Agriculture are need to produce one unit of Households B. Given Demand (in billions of dollars) for the three sectors are as follows 2.2=Agriculture 33.4 Manufacturing, 30.5=Households Find the amount of each commodity that should be produced (nearest 0.1 billion) Agriculture Manufacturing Households C. If the external demand of Households raises by $1 billion then manufacturing production needs to increase billion (nearest 0.01) in order to meet that increase in household external demand by $
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