The input-output matrix A if there is a three-sector economy which consists of wood, steel and coal. Wood requires input of 30 c from wood, 20 c from steel and 10 c from coal for $ 1 ; steel requires no input from wood, 30 c from steel and 20 c from coal for $ 1 and coal requires input of 10 c from wood, 20 c from steel and 5 c from coal for $ 1 .

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Answer 1

Question

Chapter 2.6, Problem 23E

(a)

To determine

The input-output matrix A if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(b)

To determine

The matrix (I−A)−1 if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(c)

To determine

To calculate: The levels at which each sector should produce if the demand for wood, steel and coal is worth $1, $4 and $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(d)

To determine

To calculate: The amount of output of each sector is used to meet internal consumption if the demand for wood, steel and coal is worth $1, $4 and. $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

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Answer 2

Question

Chapter 2.6, Problem 23E

(a)

To determine

The input-output matrix A if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(b)

To determine

The matrix (I−A)−1 if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(c)

To determine

To calculate: The levels at which each sector should produce if the demand for wood, steel and coal is worth $1, $4 and $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(d)

To determine

To calculate: The amount of output of each sector is used to meet internal consumption if the demand for wood, steel and coal is worth $1, $4 and. $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

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Answer 3

Question

Chapter 2.6, Problem 23E

(a)

To determine

The input-output matrix A if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(b)

To determine

The matrix (I−A)−1 if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(c)

To determine

To calculate: The levels at which each sector should produce if the demand for wood, steel and coal is worth $1, $4 and $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(d)

To determine

To calculate: The amount of output of each sector is used to meet internal consumption if the demand for wood, steel and coal is worth $1, $4 and. $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

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Answer 4

Question

Chapter 2.6, Problem 23E

(a)

To determine

The input-output matrix A if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(b)

To determine

The matrix (I−A)−1 if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(c)

To determine

To calculate: The levels at which each sector should produce if the demand for wood, steel and coal is worth $1, $4 and $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(d)

To determine

To calculate: The amount of output of each sector is used to meet internal consumption if the demand for wood, steel and coal is worth $1, $4 and. $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

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Answer 5

Chapter 2.6, Problem 23E

(a)

To determine

The input-output matrix A if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(b)

To determine

The matrix (I−A)−1 if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(c)

To determine

To calculate: The levels at which each sector should produce if the demand for wood, steel and coal is worth $1, $4 and $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

(d)

To determine

To calculate: The amount of output of each sector is used to meet internal consumption if the demand for wood, steel and coal is worth $1, $4 and. $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 6

Chapter 2.6, Problem 23E

(a)

To determine

The input-output matrix A if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 7

Chapter 2.6, Problem 23E

(a)

To determine

The input-output matrix A if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 8

(b)

To determine

The matrix (I−A)−1 if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 9

(b)

To determine

The matrix (I−A)−1 if there is a three-sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 10

(c)

To determine

To calculate: The levels at which each sector should produce if the demand for wood, steel and coal is worth $1, $4 and $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 11

(c)

To determine

To calculate: The levels at which each sector should produce if the demand for wood, steel and coal is worth $1, $4 and $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 12

(d)

To determine

To calculate: The amount of output of each sector is used to meet internal consumption if the demand for wood, steel and coal is worth $1, $4 and. $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 13

(d)

To determine

To calculate: The amount of output of each sector is used to meet internal consumption if the demand for wood, steel and coal is worth $1, $4 and. $2.

There is a three sector economy which consists of wood, steel and coal.

Wood requires input of 30c from wood, 20c from steel and 10c from coal for $1; steel requires no input from wood, 30c from steel and 20c from coal for $1 and coal requires input of 10c from wood, 20c from steel and 5c from coal for $1.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 2.1 - 1. Determine whether the following systems of...Ch. 2.1 - Give the meaning of each of the following...Ch. 2.1 - 3. Perform the indicated elementary row...Ch. 2.1 - State the next elementary row operation that...Ch. 2.1 - In Exercises 1–8, perform the indicated elementary...Ch. 2.1 - Prob. 2E Ch. 2.1 - In Exercises 1–8, perform the indicated elementary...Ch. 2.1 - In Exercises 1–8, perform the indicated elementary...Ch. 2.1 - In Exercises 18, perform the indicated elementary...Ch. 2.1 - In Exercises 18, perform the indicated elementary...

Solution Summary: The author explains the input-output matrix A for a three-sector economy which consists of wood, steel and coal.

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