(1 point) Consider an international trade model consisting of three countries X, Y, and Z. Suppose X uses of its production domestically, sends of its production to Y, and sends of its production to Z. Suppose Y uses of its production domestically, sends of its production to X, and sends of its production to Z. Suppose Z uses of its domestic goods, sends ½ of its production to X and sends of its production to Y. Assume this is a closed Leontief model. 5 If we know country Z produced 280 thousand units of goods, then country X produces thousand units of goods. thousand units of goods and country Y produces
(1 point) Consider an international trade model consisting of three countries X, Y, and Z. Suppose X uses of its production domestically, sends of its production to Y, and sends of its production to Z. Suppose Y uses of its production domestically, sends of its production to X, and sends of its production to Z. Suppose Z uses of its domestic goods, sends ½ of its production to X and sends of its production to Y. Assume this is a closed Leontief model. 5 If we know country Z produced 280 thousand units of goods, then country X produces thousand units of goods. thousand units of goods and country Y produces
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![(1 point)
Consider an international trade model consisting of three countries X, Y, and Z. Suppose X uses of its production domestically, sends of its
production to Y, and sends of its production to Z. Suppose Y uses of its production domestically, sends of its production to X, and sends of its
production to Z. Suppose Z uses of its domestic goods, sends ½ of its production to X and sends of its production to Y. Assume this is a closed
Leontief model.
5
If we know country Z produced 280 thousand units of goods, then country X produces
thousand units of goods.
thousand units of goods and country Y produces](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F040da42b-b633-4e15-be23-6ee27bd0b27e%2F6e4a8908-5659-4d5b-bd18-6e3ab00ab54a%2Fdqtyt6v_processed.jpeg&w=3840&q=75)
Transcribed Image Text:(1 point)
Consider an international trade model consisting of three countries X, Y, and Z. Suppose X uses of its production domestically, sends of its
production to Y, and sends of its production to Z. Suppose Y uses of its production domestically, sends of its production to X, and sends of its
production to Z. Suppose Z uses of its domestic goods, sends ½ of its production to X and sends of its production to Y. Assume this is a closed
Leontief model.
5
If we know country Z produced 280 thousand units of goods, then country X produces
thousand units of goods.
thousand units of goods and country Y produces
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