(3) Input-Output I Assume the following Input-Output Table depicts the inter-industrial relations of a city where, admittedly, people drink a lot of beer. Producers Inputs Steel Beer Local Households Exports Total (labor) Steel 30 20 10 0 200 Beer 30 60 20 240 10 Loca 10 10 40 30 Labor 150 80 80 40 0 Imports 40 30 10 40 0 Show the corresponding Input Coefficient Table (note, imports and export do not have to be identical) (4) Input-Output II Use the Input-Output Table above and suppose the beer industry enjoys a $100 increase in exports. Show the overall income increase in the steel industry, in the beer industry, for local businesses and the increase in labor income after 2 rounds (time periods). Note that this Table also shows intra-industrial trade. For instance, the steel industry also needs steel as an input. If the initial income impulse is $100, what is the overall income increase at Round 1, what is it at Round 2? Add up the all three numbers and calculate the overall income increase (This question requires some careful calculations). In these two rounds, how much has the initial impulse multiplied? (5) Multiplier Analysis in Practice. Go to the Input-Output Impact Worksheets of Washington State as are posted under Content on Brightspace or download them directly from https://ofm.wa.gov/washington- data-research/economy-and-labor-force/washington-input-output-model/2012- washington-input-output-model Follow "procedure 1" as is described on the first page of the Worksheet (referring to Table 1 and Table 5). For all calculations, refer to 2019 dollars (i.e., the first column of the respective Tables). a) Add 10 (i.e., $10m) to "49. Arts, Recreation & Accommodation". What is the overall change in income (Table 5). What is the overall multiplier (3 decimals)? What three industries other than "49. Arts, Recreation & Accommodation" benefit the most