Suppose an economy has only two sectors: Goods and Services. Each year, Goods sells 80% of its outputs to Services and keeps the rest, while Services sells 68% of its output to Goods and retains the rest. Find equilibrium prices for the annual outputs of the Goods and Services sectors that make each sector's income match its expenditures. 0.8 0.2 Goods Services 0.32 0.68- Denote the prices (that is, dollar values) of the total annual outputs of the Goods and Services sectors by PG and ps, respectively. If ps = $1000, then PG (Type an integer or a decimal.) If pg = $80, then pG = $[ (Type an integer or a decimal.)
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
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Suppose an economy has only two sectors: Goods and Services. Each year, Goods sells
80%
of its outputs to Services and keeps the rest, while Services sells
68%
of its output to Goods and retains the rest. Find equilibrium prices for the annual outputs of the Goods and Services sectors that make each sector's income match its expenditures.Denote the prices (that is, dollar values) of the total annual outputs of the Goods and Services sectors by pG and pS,
respectively. |
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