The following problem refers to a closed Leontief model. Suppose the technology matrix for a closed model of a simple economy is given by the following. P M H A = 0.5 0.1 0.8 0.1 0.3 0 0.4 0.6 0.2 Products Machinery Households Find the gross productions for the industries. (Let H represent the number of household units produced, and give your answers in terms of H.) products 1.53H units machinery .23H units households H units
The following problem refers to a closed Leontief model. Suppose the technology matrix for a closed model of a simple economy is given by the following. P M H A = 0.5 0.1 0.8 0.1 0.3 0 0.4 0.6 0.2 Products Machinery Households Find the gross productions for the industries. (Let H represent the number of household units produced, and give your answers in terms of H.) products 1.53H units machinery .23H units households H units
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 24EQ: Suppose the coal and steel industries form a closed economy. Every $1 produced by the coal industry...
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The following problem refers to a closed Leontief model.
Suppose the technology matrix for a closed model of a simple economy is given by the following.
|
|||||||||||||||||
A = |
|
|
|
Find the gross productions for the industries. (Let H represent the number of household units produced, and give your answers in terms of H.)
products |
1.53H
|
machinery |
.23H
|
households |
H
|
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The given matrix is
We have to find gross productions for the industries.
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