5.Given the input-output matrix:EducationEducation40Government120Final Demand40Government1209090Find the output matrix if the final demand changes toa) 200 for education, and 3000 for governmentb) 64 for education, and 64 for government

The input-output matrix is a representation of the interdependencies between different sectors of an…

Answered: 5. Given the input-output matrix:…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Economics: Labor Economics Question: 1 An employment subsidy will cause all of the following to occur except: A. An employment subsidy is essentially a negative tax B. An employment wage subsidy reduces the net wage a firm pays C. An employment subsidy will shift the labor demand curve up D. An employment subsidy does not affect the size of a firm's workforce Question: 2 The lower the elasticity of substitution between labor and capital the less elastic is the demand for labor. This is because: a.a firm is more willing to pay higher labor costs if it is difficult to substitute capital for labor. b.a firm is less willing to pay higher labor costs if it is easy for the firm to substitute capital for labor. c.the firm’s output price falls when the firm produces more output. d.labor supply increases when wage increase e.firms always have options of substituting capital for labor. Question: 3 In terms of migration what is mean by wage convergence? a. Wages in a particular location will…
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3:22 l LTE Question 11 Unanswered 2 attempts left Many professional sports teams operate under a salary cap. This means that teams typically have a fixed amount of money that they can spend on players' salaries - that is, a salary cap. This is true of the National Basketball Association (NBA), for example. Suppose that the NBA has a salary cap of $100 million dollars, and a team has $30 million available to sign new players. That is, $70 million has already been committed to player salaries. The team has two further possibilities: either sign a star player for $30 million, or sign two good, solid supporting players for $15 million each. What is the opportunity cost of signing the star player, assuming the team spends its full budget? A 2 supporting players 1 star player $30 million D There is no opportunity cost B.

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5. Given the input-output matrix: Education Education 40 Government 120 Final Demand 40 Government 120 90 90 Find the output matrix if the final demand changes to a) 200 for education, and 3000 for government b) 64 for education, and 64 for government