not use ai please A simple economy consists of two industries: agriculture and manufacturing. The production of 1 unit of agricultural products requires the consumption of 0.2 unit of agricultural products and 0.3 unitof manufactured goods. The production of 1 unit of manufactured goods requires the consumption of 0.4 unit of agricultural products and 0.3 unit of manufactured goods.(a) Find the total output of goods needed to satisfy a consumer demand for $110 million worth of agricultural products and $200 million worth of manufactured goods. (Round your answersto one decimal place.)agricultural productsmanufactured goods$$millionmillion(b) Find the value of the goods consumed in the internal process of production in order to meet the gross output. (Round your answers to one decimal place.)millionagricultural products$manufactured goods$million

The problem presented involves an economy with two industries, agriculture and manufacturing. The…

Answered: A simple economy consists of two…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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am. 113.
If there are only two goods, apples and bikes produced in the economy; in 2015 total production of apples was 1000 tones and price of apple is $2 per tone; total production of bikes was 100 units and price of bikes was $500 per unit. in 2016 total production of apples was 1500 tones and price of apple is $3 per tone; total production of bikes was 110 units and price of bikes was $600 per unit. According to the information above, please calculate the cost of the basket in 2016. O a. 7500 O b. 7000 OC. 3500 O d. 3000
Suppose the intormation in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. 2012 Statistics 2020 Statistics 2021 Statistics Product Quantity Price Quantity Price Quantity Price Shoes 90 $50.00 100 $60.00 100 $65.00 Hamburgers Shirts 85 3.00 120 3.00 135 3.50 70 40.00 60 35.00 85 35.00 Cotton 10,000 0.08 8,000 0.06 12,000 0.07 a. If the base year is the year 2012, then real GDP for 2020 equals $ answer to the nearest penny). (round your answer to the nearest penny) and the real GDP for 2021 equals $ (round your b. The (annual) growth rate of real GDP in 2021 is %. (Enter your response as a percentage rounded to two decimal places.)
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. 2020 Statistics 2021 Statistics Quantity 2012 Statistics Product Quantity Price Quantity Price Price $50.00 $65.00 Shoes Hamburgers Shirts Cotton $60.00 2.00 90 100 100 100 75 2.00 30.00 0.09 120 2.25 50 50 25.00 65 25.00 11,000 10,000 0.08 11,000 0.07 a. If the base year is the year 2012, then real GDP for 2020 equals $ 6700 (round your answer to the nearest penny) and the real GDP for 2021 equals $ (round your answer to the nearest penny).
A simple economy consists of three industries: agriculture, manifacturing and services. The input-output matrix associated with this economy is A M A 0.1 0.2 0.2 M 0.2 0.2 0.1 S 0.1 0.1 0.3 Find the gross output of goods needed to satisfy a consumer demand for 170 million dollars worth of agricultural products, 150 million dollars worth of manufactured products, and 180 million dollars worth of services. million dollars worth of agricultural products, and million dollars worth of manufactured products. million dollars worth of services.
If households spend $80 billion on goods and $70 billion on services, how much in revenues do businesses receive in the product market?
(Figure: Crumpets and Tea II) If the economy is at point 4, the input mix is: Mateo's crumpets 4 3 2 Lucia's tea ->> 6 5 2 7 6 0 5 1 20 1 UTUB 1 2 3 4 Lucia's crumpets 0 5 6 7 C Mateo's tea not Pareto-efficient; a movement to point C or point D would be a Pareto improvement. not Pareto-efficient; only a movement to point D would be a Pareto improvement. O not Pareto-efficient, a movement to point C or point D would be Pareto-inefficient. Pareto-efficient; a movement to any other point would be Pareto-inefficient.
Macroeconomics question a,b and c
Bus Econ 4.7.39 Question Help O An economy i s based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.20 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.20 from agriculture, $0.20 from manufacturing, and $0.30 from energy. Production of a dollar's worth of energy requires inputs of $0.30 from agriculture, $0.40from manufacturing, and $0.30 from energy. Find the output for each sector that is needed to satisfy a final demand of $56 billion for agriculture, $43 billion for manufacturing, and $42 billion for energy. The output of the agricultural sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)
Consider the following production possibilities curve (PPC) for an economy that produces two goods- cotton and bananas, both measured in tonnes produced per year. (0, 1500) A (100, 1440) B Tonnes of Cotton 1500 1000 500 0 100 100 tonnes of cotton 360 tonnes of cotton 300 tonnes of cotton. (200, 1280) 920 tonnes of cotton. 200 Tonnes of Bananas (300, 920) 300 Suppose the economy is currently producing at Point C. What is the opportunity cost of increasing production of bananas to 300 tonnes at Point D? E (360, 500) F (400,0) 400
Suppose that consumers purchase fish and computer chips. In 2010, 1 pound of fish cost $1, a computer chip cost $1, and the typical consumer bought 10 pounds of fish and 10 computer chips. In 2011, 1 pound of fish cost $2, a computer chip cost $0.50, and the typical consumer bought 5 pounds of fish and 20 computer chips. In 2012, 1 pound of fish cost $2.10, a computer chip cost $0.90, and the typical consumer bought 12 pounds of fish and 20 computer chips. Using 2011 as the base year, the inflation rate between 2011 and 2012 is _____ percent.
Which statement below best supports the correlation (relationship) between energy consumption and a country’s Gross Domestic Product? Your answer: 1 Countries with a high gross domestic product are low consumers of energy. 2 There is no correlation between energy consumption and gross domestic product. 3 Countries with a high gross domestic product are high consumers of energy 4 Countries with a low gross domestic product are high consumers of energy

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