An economy is based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.30 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.30 from agriculture, $0.20 from manufacturing, and $0.20 from energy. Production of a dollar's worth of energy requires inputs of $0.20 from agriculture, $0.30 from manufacturing, and $0.30 from energy. Find the output for each sector that is needed to satisfy a final demand of $31 billion for agriculture, $50 billion for manufacturing, and $12 billion for energy. The output of the agricultural 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 $0.30 from agriculture, $0.30 from manufacturing, and $0.30 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.30 from agriculture, $0.20 from manufacturing, and $0.20 from energy. Production of a dollar's worth of energy requires inputs of $0.20 from agriculture, $0.30 from manufacturing, and $0.30 from energy. Find the output for each sector that is needed to satisfy a final demand of $31 billion for agriculture, $50 billion for manufacturing, and $12 billion for energy. The output of the agricultural sector is ☐ billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Consider Tralfamadore, a hypothetical country that produces only cakes. In 2017, a cake is priced at $4.00. Complete the first row of the table with the quantity of cakes that can be bought with $900. Hint: In this problem, assume it is not possible to buy a fraction of a cake, and always round down to the nearest whole cake. For example, if your calculations result in 1.5 cakes, the answer should be 1 cake. Year Price of a Cake Cakes Bought with $900 (Dollars) (Quantity) 2017 4.00 2018 Suppose the government of Tralfamadore cannot raise sufficient tax revenue to pay its debts. In order to meet its debt obligations, the government prints money. As a result, the money supply rises by 20% by 2018. Assuming monetary neutrality holds, complete the second row of the table with the new price of a cake and the new quantity of cakes that can be bought with $900 in 2018. The impact of the government's decision to raise revenue by printing…
Wenatchee is a town on a large river. On the other side of the river is East Wenatchee (since the river is the county line, these are in two different counties and thus, two different cities.) Wenatchee (which I refuse to call "West Wenatchee") is pretty much hemmed in on all sides by mountains. East Wenatchee, on the other hand, sits on a large plateau surrounded by wheat fields. Assume that housing in Wenatchee and housing in East Wenatchee are what economists call "perfect substitutes." This means basically that people don't care whether they live in Wenatchee or East Wenatchee. Then imagine that in the nearest big city there is a pandemic followed by a bunch of riots. Part of the town is taken over by Marxists revolutionaries. The city starts dismantling the police and raising taxes because they have no money. (Just try to imagine it!) and this causes a lot of people to decide it would be nice to live in a smaller town on the other side of the mountains. Which will grow…
You have the following annual data for the New Zealand economy ($bn): GDP (Y) = 184 Gross National Disposable Income (Yd) = 171 Net exports of goods and services (NX) = 0 Private Consumption (C) = 106 Government consumption (G) = 34 Based on this data, complete the following paragraph (enter numbers only). Investment (I) is equal to $____bn. The current account SELECT (surplus or deficit) is equal to $_____bn. The capital account part of the balance of payments (which for the purposes of this question includes both capital and financial accounts) therefore shows a SELECT (surplus or deficit) of $_____bn. National savings is equal to $_____bn.
Wenatchee is a town on a large river. On the other side of the river is East Wenatchee (since the river is the county line, these are in two different counties and thus, two different cities.) Wenatchee (which I refuse to call "West Wenatchee") is pretty much hemmed in on all sides by mountains. East Wenatchee, on the other hand, sits on a large plateau surrounded by wheat fields. Assume that housing in Wenatchee and housing in East Wenatchee are what economists call "perfect substitutes." This means basically that people don't care whether they live in Wenatchee or East Wenatchee. Then imagine that in the nearest big city there is a pandemic followed by a bunch of riots. Part of the town is taken over by Marxists revolutionaries. The city starts dismantling the police and raising taxes because they have no money. (Just try to imagine it!) and this causes a lot of people to decide it would be nice to live in a smaller town on the other side of the mountains. Which will grow…
e) Suppose a tariff allowed an industry to create 200,000 jobs paying an average of $22,500 per year. Before the tariff consumers bought 3 billion units (60% imported) at a price of $30. After the tariff they bought 2.75 billion units (none imported) at a price of $36. How much did total consumer spending on the good increase and how much per new job?
5:06 A & & & O M P Page 2 of 5 QUESTION 2 The table below contains data on international transactions for the country of Econia. All figures are in thousands of Econia Dollars (E$), and you may assume that there is no statistical discrepancy generated by the collection of the data on the various kinds of transactions. Complete the table by filling in the light-blue shaded cells. Payments from the rest of the world All figures in thousands of E$ Payments from Econia to the rest of the world Net Payments to Econia to Econia Sales and purchases of goods & services Factor payments 5,250 2,500 1,500 1,000 Transfers 750 1,250 -500 Sales & purchases of assets 10,000 Total Current Account 10,250 Total Financial Account Page 3 of 5 QUESTION A3
Suppose the following transactions occur during the current year: 1. Darnell orders 50 bottles of wine from a French distributor at a price of $30 per bottle. 2. A U.S. company sells 300 spark plugs to a Korean company at $5.00 per spark plug. 3. Jacques, a U.S. citizen, pays $670 for a skateboard he orders from Wally's (a U.S. company). Complete the following table by indicating how the combined effects of these transactions will be reflected in the U.S. national accounts for the current year. Hint: Be sure to enter a "0" if none of the transactions listed are included in a given category and to enter a minus sign when the balance is negative. Consumption Investment Government Purchases Imports Exports Net Exports Gross Domestic Product (GDP) Amount (Dollars)
不 An economy is based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.30 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 $0.30 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 $16 billion for agriculture, $47 billion for manufacturing, and $24 billion for energy. The output of the agricultural sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)
Economics Malaysia and the United States trade with each other. The currency in Malaysia is the "ringgit". Currently the exchange rate is approximately 3 ringgit per US dollar. Suppose that the GDP deflator in Malaysia rises relative to the GDP deflator in the United States. Which of the following shifts would we see in the Malaysian forex market? The demand for US dollars would fall. The supply of US dollars would fall. The demand for Malaysian ringgit would rise. The supply of Malaysian ringgit would fall.
The ending of THE GIVER is ambiguous, meaning not very clear what happens, and may be interpreted in two very different ways. > Perhaps Jonas is remembering his Christmas memory --- one of the most beautiful that the Giver transmitted to him --- as he and Gabriel are freezing to death, falling into a dreamlike coma in the snow. > Or perhaps Jonas does hear music and, with his special vision, is able to perceive the warm house where people are waiting to greet him. > In her acceptance speech for the Newbery Medal, Lois Lowry mentioned both possibilities but would not choose one as correct. In several paragraphs explain how each ending is possible and provide evidence to support each interpretation of the story’s resolution?
. Then comment on at least TWO other posts. Respond to the posts indicating your agreement or disagreement with their position and why. Feel free to bring in additional references to these reply posts. How has the U.S. economy been doing in recent years? Why do you think that is? Gather relevant economic statistics, such as the growth rate of real GDP, the unemployment rate, and the inflation rate, to support your case. (Hint: use the information we’ve covered and you’ve researched in the data project about GDP, business cycles, unemployment, and inflation to build your argument). Did any of the data from the project surprise you? Which data? Why? Does this data indicate a growing, stagnant or declining economy? What does this data tell you about the health of our economy? Why? Find a current news or journal article that describes our current economy and that supports your opinion. Summarize the article and indicate how it supports your opinion. Use sound economic reasoning.
Please use the Gauss-Jordan Row Elimination Method. PLEASE SHOW EVERY STEP and (PLEASE DO NOT SKIP A STEP). It is very hard to figure out the step and understand your thinking for each step when it is skipped.