Qu.3 Explain how simple One Industry Input-Output Multiplier works? Qu.4 Explain how Two Industry Input-Output Multiplier works? Qu.5 Suppose we have a simple economy with no government spending or taxes and no exports or imports. Suppose that there are two industries, industry 1 and industry 2. Industry 1 produces q1 = $110, with q11 = $65, q21 =$15 and p1=$45 and sells d1 =$20 final goods. Industry 2 produces q2 = $75, with q12 = $40, q22= $20 and p2=$15 and sells d2=$40 final goods. a. Write the information out as a simple 2 Industry Input-Output Table. b. Calculate GDP(E), GDP(I) and GDP(VA) and verify they are equal. c. Calculate the matrix of technical coefficients d. Form the (I - A) matrix e. Find the inverse of (I - A), using =MINVERSE( ) in MS Excel f. What is the final demand multiplier for Industry 1 and Industry 2 g. Why do you think the multiplier is larger for industry 1?