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 $2,500 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,500 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? Submit Answer From To 1 Practice It 1 11,937 2 26,649 3 4 Total Output 0 2 9 4,285 0 3 109 20 855 0 4,744 61 439 4 |: 5,423 10,952 3,002 216 97,795 120,594 14,642 47,473
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 $2,500 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,500 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? Submit Answer From To 1 Practice It 1 11,937 2 26,649 3 4 Total Output 0 2 9 4,285 0 3 109 20 855 0 4,744 61 439 4 |: 5,423 10,952 3,002 216 97,795 120,594 14,642 47,473
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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 $2,500 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,500 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?
Submit Answer
From
To 1
Practice It
1 11,937
2 26,649
3
4
Total Output
0
2
9
4,285
0
3
109
20
855
0 4,744
61
439
4
|:
5,423
10,952
3,002 216
97,795 120,594 14,642 47,473
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