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In Exercises 25–28, find the production
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Chapter 4 Solutions
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- You are given a technology matrix a and an external demand vector d. Find the corresponding production vector X.arrow_forwardFind the production schedule for the technology matrix and demand vector given below: [0.7 0.2 70 A = 0.1 0.6 30arrow_forwardFind the production schedule for the technology matrix and demand vector given below: 0.4 0.1 5 A = 0.4 0.6 0.8 D =| 8 0.1 0.3 0.2 X = 3.arrow_forward
- Let y represent the annual income of an individual in 2018. Let z represent the number of days the individual worked in 2018. Let x represent the number of days the individual spent snow skiing in 2018. Let w represent the number of days the individual did not work in 2018. Which of the following models violate A3 (MLR.3)? O y = Bo+B1 + 2 + O y = Bo + B₁x + B₂z+u O y = Bo + Bi +B2 z tu All of the above.arrow_forward0.1 0.4 (units in millions of dollars) is a demand vector. 10 Matrix A =| is an input-output matrix associated with an economy, and matrix D = 0.3 0.2 Find the final outputs of each industry such that the demands of the industry and consumer sector are met.arrow_forwardYou are given a technology matrix A and an external demand vector D. Find the corresponding production vector X. 0.5 0.4 15,000 A = D = 0.5 20,000 X :arrow_forward
- An economy has the following technology matrix T and external demand matrix D. Find the total output necessary to meet demand requirements. 0.06 0.03 T = 0.35 0.31 156 (837 D = 696.64 930.34, 372.9 1617.36 ( 121.53 522.93 54.33 479.19 210.33 1316.19arrow_forwardFind the demand matrix for the following input-output and production matrices using the open model. 13 14 A = 0.4 0.4 0.3 0.5 X= The demand matrix is (Type an integer or decimal for each matrix element.)arrow_forwardConsider the basic macroeconomic model: Y=C+I and C = a + by where Y is GDP, C is consumtion and I is total investment (treated as fixed). a, b are positive parameters. Solve the model for Y in terms of I and the parameters.arrow_forward
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