The following technology matrix for a simple economy describes the relationship
ID: 3421083 • Letter: T
Question
The following technology matrix for a simple economy describes the relationship of certain industries to each other in the production of one unit of product.
Outputs
A
M
F
U
Inputs
Agriculture
0.32
0.06
0.09
0.06
Manufacturing
0.11
0.41
0.19
0.31
Fuels
0.31
0.14
0.18
0.20
Utilities
0.18
0.26
0.21
0.25
a. How can you tell this is an open Leontief Model?
b. What industry is most dependent on fuels for its operation?
c. How many units of fuel are required to produce 100 units of utilities?
A
M
F
U
Inputs
Agriculture
0.32
0.06
0.09
0.06
Manufacturing
0.11
0.41
0.19
0.31
Fuels
0.31
0.14
0.18
0.20
Utilities
0.18
0.26
0.21
0.25
Explanation / Answer
A
M
F
U
Inputs
Agriculture
0.32
0.06
0.09
0.06
Manufacturing
0.11
0.41
0.19
0.31
Fuels
0.31
0.14
0.18
0.20
Utilities
0.18
0.26
0.21
0.25
A
M
F
U
Inputs
Agriculture
0.32
0.06
0.09
0.06
Manufacturing
0.11
0.41
0.19
0.31
Fuels
0.31
0.14
0.18
0.20
Utilities
0.18
0.26
0.21
0.25
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.