An economy has a manufacturing industry and a banking industry. Each unit of manufacturing output requires inputs of 0.5 unit of manufacturing and 0.2 unit of banking. Each unit of banking output requires inputs of 0.3 unit of each manufacturing and banking. (a)Write the technology matrix for this economy. (b)Find the output from each sector that is needed to satisfy a final demand of 141 units of manufacturing and 106 units of banking.
An economy has a manufacturing industry and a banking industry. Each unit of manufacturing output requires inputs of 0.5 unit of manufacturing and 0.2 unit of banking. Each unit of banking output requires inputs of 0.3 unit of each manufacturing and banking. (a)Write the technology matrix for this economy. (b)Find the output from each sector that is needed to satisfy a final demand of 141 units of manufacturing and 106 units of banking.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.3: Matrix Algebra
Problem 68E
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An economy has a manufacturing industry and a banking industry. Each unit of manufacturing output requires inputs of 0.5 unit of manufacturing and 0.2 unit of banking. Each unit of banking output requires inputs of 0.3 unit of each manufacturing and banking. (a)Write the technology matrix for this economy.
(b)Find the output from each sector that is needed to satisfy a final demand of 141 units of manufacturing and 106 units of banking.
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