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.)

1) Consider a book sitting on a bookcase at home. Draw a graph showing its supply chain from the raw material all the way to the bookcase. Briefly explain each node in the supply chain along with the flow of material, information, and funds between different nodes. Also show the flow of material, information, and funds on the graph using arrows with different colors. Make sure to label the arrows.

The Economist article, "Low interest rates leave savers with few good options", states that savers are likely to respond to low rates in one of the following three ways: Lincrease athletic activity, go back to school, or, spend more on entertainment O re-watch the movie Trading Places, invest in Treasury bills, or, move to Germany save more and spend less, set aside less money due to higher returns, or, decrease investments in risky assets save less and spend more, set aside more money to make up for low returns, or, increase investments in risky assets

The economy of a small country consists of two sectors: Energy and Transportation. For each $1 worth of output, the Energy sector requires $0.60 worth of input from the Energy sector and $0.20 worth of input from the Transportation sector. For each $1 worth of output, the Transportation sector requires $0.80 worth of input from the Energy sector and $0.10 worth of input from the Transportation sector. What level of output should each sector produce in order to meet a consumer demand of $1 million worth of Energy and $2 million worth of Transportation?

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…

am. 113.

Suppose there are only two goods produced in an economy: phones and meals. Maria is adept at assembling electronics but has poor skills at preparing food. Mike is an accomplished chef but is not very skilled at assembling electronics. Currently Mike and Maria each work independently, and they each produce both meals and phones. However, they are considering trading some of their respective output with each other, but only if that would allow each person to become more prosperous. Which statement is not true? a. Customers will gain if Mike and Maria decide to specialize in what they do best and trade their output. b. Mike and Maria will both gain only if they trade the same number of phones for the same number of meals. c. Mike and Maria would gain by using their time making only the one good that they are best at producing. d. Mike should produce more food and fewer phones, and Maria should produce more phones and fewer meals.

An economy consumes 1 million chickens each year. A new technology in raising chickens lowers the price of each chicken from $50 to $40. Suppose the economy still consumes 1 million chickens each year at the lower price. Do you agree that since the consumers pay $10 million less, the national saving due to the change in price equals $10 million?

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…

Question 26.26.   A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu only to find that consumers won’t buy it because they don’t like the taste.  From an economic perspective, the company should          keep the hamburger on the menu because they've spent so much money and time developing and promoting the product.        spend more money to develop a more efficient way to cook the hamburger so it cooks in a shorter time.        pull the hamburger off the menu and treat the development and promotion expenditures as a sunk cost.        keep trying to sell the hamburger so that people who developed and promote it have a job with the company.