Assume that an economy is based on two industrial sectors, agriculture (A) and energy (E). The technology matrix M and final demand matrices (in billions of dollars) are shown below. A E 0.3 0.5 A M= D= E 0.2 0.5 -1 Find (1-M) and the output for each sector, X, that is needed to satisfy the final demand, D. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. (I-M)1= (Simplify your answer.) OB. The matrix (I-M) is singular.

Assume that an economy is based on two industrial sectors, agriculture (A) and energy (E). The technology matrix M and final demand matrices (in billions of dollars) are shown below. A E 0.3 0.5 A M= D= E 0.2 0.5 -1 Find (1-M) and the output for each sector, X, that is needed to satisfy the final demand, D. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. (I-M)1= (Simplify your answer.) OB. The matrix (I-M) is singular.

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...

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