Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Industry Type 1 Agriculture and Food 2 energetic 3 Construction 4 Chemistry 5 Textile 6 paper 7 steel 8 Engineering 9 Precious metals 10 Services

 student submitted image, transcription available below

Industry Type

1 Agriculture and Food

2 energetic

3 Construction

4 Chemistry

5 Textile

6 paper

7 steel

8 Engineering

9 Precious metals

10 Services

Calculate the output levels of the ten industries.
 

This model considers an open sector, where labor, profits, etc. are considered in the following way. Let x1 be the total output of the industry to satisfy the Demand from the open sector and all industries (in dollars). So x = ax + x + ... + ax +d where di denotes the demand of the sector opened by industry i. Here axis represents the input requirements of industry j by industry i. This can be written in matrix form as X = AX+d Consider the following input coefficient matrix A and the demand vector of the open sector d, for 10 interdependent industries in the United States

Step by Step Solution

3.49 Rating (159 Votes )

There are 3 Steps involved in it

Step: 1

Calculating Output Levels for Ten Interdependent Industries We are given Input coefficient matrix A This 10x10 matrix represents the input requirement... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics For Engineers And Scientists

Authors: William Navidi

3rd Edition

73376345, 978-0077417581, 77417585, 73376337, 978-0073376332

More Books

Students also viewed these Economics questions