An economy has a manufacturing industry and a banking industry. Each unit of manufacturing output requires inputs of 0.5 unit of manufacturing and 0.2 unit of banking. Each unit of banking output requires inputs of 0.3 unit of each manufacturing and banking. (a)Write the technology matrix for this economy. (b)Find the output from each sector that is needed to satisfy a final demand of 141 units of manufacturing and 106 units of banking.
An economy has a manufacturing industry and a banking industry. Each unit of manufacturing output requires inputs of 0.5 unit of manufacturing and 0.2 unit of banking. Each unit of banking output requires inputs of 0.3 unit of each manufacturing and banking. (a)Write the technology matrix for this economy. (b)Find the output from each sector that is needed to satisfy a final demand of 141 units of manufacturing and 106 units of banking.
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 23EQ:
23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...
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An economy has a manufacturing industry and a banking industry. Each unit of manufacturing output requires inputs of 0.5 unit of manufacturing and 0.2 unit of banking. Each unit of banking output requires inputs of 0.3 unit of each manufacturing and banking. (a)Write the technology matrix for this economy.
(b)Find the output from each sector that is needed to satisfy a final demand of 141 units of manufacturing and 106 units of banking.
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