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The following closed Leontief model with technology matrix A might describe the economy of the entire country, with x 1 equal to the governments budget,
The following closed Leontief model with technology matrix A might describe the economy of the entire country, with x1 equal to the governments budget, x2 the value of industrial output (profit-making organizations), x3 the budget of nonprofit organizations, and x4 the households budget
G | I | N | H | |
0.4 | 0.2 | 0 | 0.3 | |
A = | 0.2 | 0.2 | 0.2 | 0.1 |
0.2 | 0 | 0.2 | 0.1 | |
0.2 | 0.6 | 0.6 | 0.5 | |
Find the total budgets (or outputs) x1,x2,x3, and x4 |
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