Question 4 Using the following transactions below, compile the Supply and Use Table 1. L ii. Corn was imported by the agricultural sector (100,000) and 80% used by the sector. Manufacturing industry utilizes 20% of imported corn to produce bread which is sold to government, private sector and hotels equally. i Household sector and private sector utilize the remaining corn equally 2. i. Oil refinery imported $720,000 worth of crude oil to produce. ii Oil refinery uses crude oil to produce $500,000 worth of petrol and $220,000 worth of diesel. il Household purchased (40 %) of petrol government (30%), manufacturing (10 %) and exports (20%). $5000 was paid as wages in for workers in the agricultural and manufacturing sector. Tax on the production of petrol was $7000.
Question 4 Using the following transactions below, compile the Supply and Use Table 1. L ii. Corn was imported by the agricultural sector (100,000) and 80% used by the sector. Manufacturing industry utilizes 20% of imported corn to produce bread which is sold to government, private sector and hotels equally. i Household sector and private sector utilize the remaining corn equally 2. i. Oil refinery imported $720,000 worth of crude oil to produce. ii Oil refinery uses crude oil to produce $500,000 worth of petrol and $220,000 worth of diesel. il Household purchased (40 %) of petrol government (30%), manufacturing (10 %) and exports (20%). $5000 was paid as wages in for workers in the agricultural and manufacturing sector. Tax on the production of petrol was $7000.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Please answer all
Transcribed Image Text:×
You
n
i.
Question 4
Using the following transactions below, compile the Supply and Use Table
1.
iii.
Corn was imported by the agricultural sector (100,000) and 80% used by the sector.
ii. Manufacturing industry utilizes 20% of imported corn to produce bread which is sold to
government, private sector and hotels equally.
Household sector and private sector utilize the remaining corn equally
f
3.
$5000 was paid
o
2.
i. Oil refinery imported $720,000 worth of crude oil to produce.
ii Oil refinery uses crude oil to produce $500,000 worth of petrol and $220,000 worth of diesel.
iii Household purchased (40 %) of petrol government (30 %), manufacturing (10 %) and exports (20%).
Tax on the production of petrol was $7000.
swages in for workers in the agricultural and manufacturing sector.
Add a caption...
T
(1)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 6 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education