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1. An economy has two sectors: Electricity and Services. For each unit of output, Electricity requires 0.8 units from its own sector and 0.3 units from Services. Meanwhile, Services require 0.4 units from Electricity and 0.6 units from its own sector to produce one unit of Services. The production vector necessary to satisfy a final demand of 1,000 units of Electricity and 2,000 units of services is (a, b). What is a+b? 1. 8,500 2. 9,000 3. 9.500 4. 10,000 5. 10.500

1. An economy has two sectors: Electricity and Services. For each unit of output, Electricity requires 0.8 units from its own sector and 0.3 units from Services. Meanwhile, Services require 0.4 units from Electricity and 0.6 units from its own sector to produce one unit of Services. The production vector necessary to satisfy a final demand of 1,000 units of Electricity and 2,000 units of services is (a, b). What is a+b? 1. 8,500 2. 9,000 3. 9.500 4. 10,000 5. 10.500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. An economy has two sectors: Electricity and Services. For each unit of output, Electricity requires 0.8 units from its own sector and 0.3 units from Services. Meanwhile, Services require 0.4 units from Electricity and 0.6 units from its own sector to produce one unit of Services. The production vector necessary to satisfy a final demand of 1,000 units of Electricity and 2,000 units of services is (a, b). What is a+b? 1. 8,500 2. 9,000 3. 9.500 4. 10,000 5. 10.500
Transcribed Image Text:1. An economy has two sectors: Electricity and Services. For each unit of output, Electricity requires 0.8 units from its own sector and 0.3 units from Services. Meanwhile, Services require 0.4 units from Electricity and 0.6 units from its own sector to produce one unit of Services. The production vector necessary to satisfy a final demand of 1,000 units of Electricity and 2,000 units of services is (a, b). What is a+b? 1. 8,500 2. 9,000 3. 9.500 4. 10,000 5. 10.500
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