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 $2,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,000 million, and so on. (Round your answers to two decimal places. Let the columns of the matrix be given in millions of dollars.)

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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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 $2,000 million, how they would react to an increase in
demand for other agricultural products (Sector 2) of $2,000 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?
From
1
1 11,937
2 26,649
3
4
Practice It
To
Total Output
2
0
9
109
855
0
4,744
61
439
5,423 10,952 3,002 216
97,795 120,594 14,642 47,473
4,285
3
0
4
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 $2,000 million, how they would react to an increase in demand for other agricultural products (Sector 2) of $2,000 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? From 1 1 11,937 2 26,649 3 4 Practice It To Total Output 2 0 9 109 855 0 4,744 61 439 5,423 10,952 3,002 216 97,795 120,594 14,642 47,473 4,285 3 0 4
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