An economy is based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.40 from agriculture, $0.40 from manufacturing, and $0.20 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.30 from energy. Production of a dollar's worth of energy requires inputs of $0.20 from agriculture, $0.40 from manufacturing, and $0.30 from energy. Find the output for each sector that is needed to satisfy a final demand of $74 billion for agriculture, $32 billion for manufacturing, and $72 billion for energy. The output of the agricultural sector is (Round the final answer to three decimal needed.) billion dollars. places as needed. Round all intermediate values to six decimal places as The output of the manufacturing sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.) The output of the energy sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)
An economy is based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.40 from agriculture, $0.40 from manufacturing, and $0.20 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.30 from energy. Production of a dollar's worth of energy requires inputs of $0.20 from agriculture, $0.40 from manufacturing, and $0.30 from energy. Find the output for each sector that is needed to satisfy a final demand of $74 billion for agriculture, $32 billion for manufacturing, and $72 billion for energy. The output of the agricultural sector is (Round the final answer to three decimal needed.) billion dollars. places as needed. Round all intermediate values to six decimal places as The output of the manufacturing sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.) The output of the energy sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 5SQ
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