1 please 1.6 EXERCISES1. Suppose an economy has only two sectors, Goods and Ser-vices. Each year, Goods sells 80% of its output to Servicesand keeps the rest, while Services sells 70% of its output toGoods and retains the rest. Find equilibrium prices for theannual outputs of the Goods and Services sectors that makeeach sector's income match its expenditures..2Goods.8-.7Services.32. Find another set of equilibrium prices for the economy inExample 1. Suppose the same economy used Japanese yeninstead of dollars to measure the value of the various sec-tors' outputs. Would this change the problem in any way?Discuss.3. Consider an economy with three sectors, Chemicals & Met-als, Fuels & Power, and Machinery. Chemicals sells 30% ofoutput to Fuels and 50% to Machinery and retains theoutput to Chemicals and 10%its6.7.8.

1. Suppose an economy has only two sectors, Goods and Ser- vices. Each year, Goods sells 80% of its output to Services and keeps the rest, while Services sells 70% 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.