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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.

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.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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.)

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 $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.) 1711.42 3.02 19.75 31.30 492.2 1571.00 39.07 166.77 0.19 0.19 1546.79 2.02 140.83 143,54 323.25 1524.23 То 1. 2 3 4 From 111,937 9 109 855 2 26,649 4,285 4,744 3 439 61 4 5,423 10,952 3,002 216 Total Output 97,795 120,594 | 14,642 47,473
Transcribed Image Text: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 $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.) 1711.42 3.02 19.75 31.30 492.2 1571.00 39.07 166.77 0.19 0.19 1546.79 2.02 140.83 143,54 323.25 1524.23 То 1. 2 3 4 From 111,937 9 109 855 2 26,649 4,285 4,744 3 439 61 4 5,423 10,952 3,002 216 Total Output 97,795 120,594 | 14,642 47,473
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