Consider an open economy with consumption matrix 1/2 1/4 1/4 C= 1/2 1/8 1/4 1/2 1/4 1/8] product-producing If the open sector demands the same dollar value from each sector, which such sector must produce the greatest dollar value to meet the demand? Is the economy productive?
Consider an open economy with consumption matrix 1/2 1/4 1/4 C= 1/2 1/8 1/4 1/2 1/4 1/8] product-producing If the open sector demands the same dollar value from each sector, which such sector must produce the greatest dollar value to meet the demand? Is the economy productive?
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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