A simplified version of input-output analysis of a national economy has the following input-output matrix: Agriculture Manufacturing Households Agriculture 0.245 0.102 0.051 Manufacturing 0.099 0.291 0.279 Households 0.433 0.372 0.011 R A. units of Households are need to produce one unit of Manufacturing B. Given Demand (in billions of dollars) for the three sectors are as follows 33= Manufacturing, 2.8-Agriculture 30.9-Households Find the amount of each commodity that should be produced (nearest 0.1 billion) Agriculture - Manufacturing = Households C. If the external demand of Households raises by $1 billion then manufacturing production needs to increase by $ billion (nearest 0.01) in order to meet that increase in household external demand

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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