Assume that an economy is based on two industrial sectors, agriculture (A) andenergy (E). The technology matrix M and final demand matrices (in billions of dollars) areshown below.AEA0.1 0.48M =D =E0.4 0.61Find (IM) and the output for each sector, X, that is needed to satisfy thefinal demand, D....Select the correct choice below and, if necessary, fill in the answer box to complete yourchoice.A. (1-M)-1=(Simplify your answer.)B.The matrix (IM) is singular.

Now,let's determine if the matrix (I−M)is singular or not. A matrix is singular if its determinant…

Answered: Assume that an economy is based on two…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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The input-output matrix for a simplified economy with just three sectors (natural resources, manufacturing, and trade and services) is given below. Natural Resources Manufacturing Trade and Services 0.1044 0.0428 0.0029 0.0827 0.0583 0.0867 0.2031 Natural Resources Manufacturing Trade and Services Suppose the demand (in millions of dollars) matrix is the matrix D, shown below. Find the amount each sector should produce. D= 0.1086 0.1018 449 300 126 Production levels of units from natural resources, units from manufacturing, and units from trade and services are needed. (Round to the nearest whole number as needed.)
Find the total production vector for a closed Leontief model with the given input-output matrix. A = A Find the total production vector for an open Leontief model with the given input-output matrix and external demand. 0.2 0.3 0.5 0.5 0.4 0.3 [0.3 0.3 0.2 = [0.01 0.2 0.15 0.15 0.15 0.25 0.3 D 0.2 0.15 10 10 20
A simplified version of input-output analysis of a national economy has the following input-output matrix: Agriculture Manufacturing Households 0.245 0.051 0.099 0.279 0.433 0.011 A. Agriculture Manufacturing Households 0.102 0.291 0.372 units of Manufacturing are need to produce one unit of Households B. Given Demand (in billions of dollars) for the three sectors are as follows 32.6 = Manufacturing, 3.5-Agriculture 31.8-Households Find the amount of each commodity that should be produced (nearest 0.1 billion) = Agriculture - Manufacturing Households C. If the external demand of Households raises by $1 billion then manufacturing production needs to increase by $ billion (nearest 0.01) in order to meet that increase in household external demand
f0.2 0.3 0.2] [30] (c). If input matrix is 0.4 0.1 0.2 and its final demand is 15, what are the solution lo.1 0.3 0.2l liol output levels for the three industries? (Round off answers to two decimal places.)
6. For the given matrix M, shown below, find M. Please show your work and do not use the graphing calculator. M%3= 1 ftiokot prices 55
Given the following input-output matrix A and corresponding demand matrix E for a local economy, find the production matrix X, where X=[x1 x2]. Write the exact answer. Do not round. x1= x2=

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