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Consider a sector of the economy composed of just two industries: coal and steel. In order to produce coal, the coal industry needs both coal
Consider a sector of the economy composed of just two industries: coal and steel. In order to produce coal, the coal industry needs both coal and steel as inputs. Similarly, in order to produce steel, the steel industry needs both steel and coal as inputs. The inputs requried by each industry are: - $0.30 coal/$1.00 coal - $0.20 steel/ $1.00 coal - $0.40 coal/ $1.00 steel - $0.10 steel/ $1.00 steel 0.30 0.40 0.20 0.10 us that x = Cx + d, where x is the vector of ammounts produced. 10000 20000] . The Leontlef Input-output model tells We can write this as a consumption matrix C = [ ] . Suppose the final demand vector is d = [
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