Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars). Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $2,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.) 2281.98 ✓ 4.11 664.2 0.25 187.76 ✓ 2094.66 ✓ 0.25 191.39 From ✓ To 1 1 11,937 9 2 26,649 4,285 3 4 2 0 3 855 109 0 4,744 61 0 439 5,423 10,952 3,002 216 Total Output 97,795 120,594 14,642 47,473 4

Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars). Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $2,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.) 2281.98 ✓ 4.11 664.2 0.25 187.76 ✓ 2094.66 ✓ 0.25 191.39 From ✓ To 1 1 11,937 9 2 26,649 4,285 3 4 2 0 3 855 109 0 4,744 61 0 439 5,423 10,952 3,002 216 Total Output 97,795 120,594 14,642 47,473 4

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter13: General Equilibrium And Welfare

Section: Chapter Questions

Problem 13.2P

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This exercise requires the use of technology. Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars). Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $2,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.) Need Help? From 1 1 11,937 2 26,649 3 4 Practice It To Total Output 2 0 9 109 855 0 4,744 61 439 5,423 10,952 3,002 216 97,795 120,594 14,642 47,473 4,285 3 0 4
Four sectors of the U.S. economy are (1) livestock and livestock products, (2) other agricultural products, (3) forestry and fishery products, and (4) agricultural, forestry, and fishery services. Suppose that in 1977 the input-output table involving these four sectors was as follows (all figures are in millions of dollars).Determine how these four sectors would react to an increase in demand for livestock (Sector 1) of $1,500 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $1,500 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.)
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