The input-Output coefficent matrix for 2-sector economy is given by: 03 03 A = 0.4 0.6 The final demand for two industries are 90 and 520 units respectively. Find the gross output of each sector. What be the labour requirements for each sector?

The input-Output coefficent matrix for 2-sector economy is given by: 03 03 A = 0.4 0.6 The final demand for two industries are 90 and 520 units respectively. Find the gross output of each sector. What be the labour requirements for each sector?

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter12: The Supply Of And Demand For Productive Resources

Section: Chapter Questions

Problem 2CQ

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Question

The input-Output coefficent matrix for 2-sector economy is given by:
03 03
A
0.4 0.6
The final demand for two industries are 90 and 520 units respectively. Find the gross
output of each sector. What be the labour requirements for each sector?

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