Answered: An economy has a manufacturing industry…

Name: An economy has a manufacturing industry and a banking industry. Each u
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Description: An economy has a manufacturing industry and a banking industry. Each unit of manufacturing output requires inputs of 0.5 unit of manufacturing and 0.2 unit of banking. Each unit of banking output requires inputs of 0.3 unit of each manufacturing and

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...

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An economy has a manufacturing industry and a banking industry. Each unit of manufacturing output requires inputs of 0.5 unit of manufacturing and 0.2 unit of banking. Each unit of banking output requires inputs of 0.3 unit of each manufacturing and banking. (a)Write the technology matrix for this economy.

(b)Find the output from each sector that is needed to satisfy a final demand of 141 units of manufacturing and 106 units of banking.

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