**Input-Output Table Analysis: National Economy (in billions of Turkish Liras)**Below is an input-output (I-O) table summarizing the economic transactions between different sectors of a national economy. The entries are in billions of Turkish liras.| Sectors | Agriculture | Manufacture | Services | Final Demand | Total ||-------------|-------------|-------------|----------|--------------|-------|| Agriculture | 280 | 75 | 5 | 650 | 1,010 || Manufacture | 310 | 280 | 85 | 730 | 1,405 || Services | | | | | || - Labor | | | | | || | | | 30 | 460 | 720 || - Capital | 120 | 400 | 315 | | || (profits) | 170 | 270 | 150 | | || - Intermediate Import | 50 | 230 | 135 | || **Total** | **1,010** | **1,405** | **720** | | |### Question:Which of the following statements is NOT correct about the above I-O table?- **A)** Services sector has the least percentage of all intermediate inputs proportional to its total inputs.- **B)** Outputs of Agriculture and Services sectors are used by final demand approximately at the same percentage.- **C)** Agriculture sector has the least percentage of domestic intermediate inputs proportional to its total inputs.- **D)** Manufacture sector has the largest contribution to the GDP.- **E)** Most of the foreign inputs are used by the Manufacture sector.### Explanation of the Diagram:Let us break down the table and the interpretations of each sector:1. **Agriculture Sector:** - Intermediate Uses: Agriculture (280), Manufacture (75), Services (5) - Final Demand: 650 - Total: 1,0102. **Manufacture Sector:** - Intermediate Uses: Agriculture (310), Manufacture (280), Services (85) - Final Demand: 730 - Total: 1,4053. **Services Sector:** - Intermediate Uses: Services (30), Final Demand (460

The rows of the table represents the output produced by each sector.The column of the table…

Answered: Which of the following statements is…

Business

Economics

Which of the following statements is NOT correct about the above 1-0 table?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Answer the multiple choice question based on documents A and B
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None
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