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An economy is based on three sectors, agriculture, manufacturing, and energy. Production of adollar’s worth of agriculture...

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Basic Math

An economy is based on three sectors, agriculture,manufacturing, and energy. Production of adollar’s worth ofagriculture requires inputs of $0.30 from agriculture, $ 0.30frommanufacturing, and $0.30 from energy. Production of a dollar’sworth of manufacturing requires inputs of $0.30 from agriculture,$0.20 from manufacturing, and $0.20 from energy. Production of adollar’s worth of energy requires inputs of $0.20 from agriculture,$0.30 frommanufacturing, and $0.30 from energy.

Find the output for each sector that is needed to satisfy afinal demand of $67 billion foragriculture, $34 billionformanufacturing, and $14 billion for energy.

1) The output of the agricultural sector is ___ billiondollars

2) The output of the manufacturing sector is __ billiondollars

3) The output of the energy sector is __ billion dollars

Answer & Explanation Solved by verified expert
4.3 Ratings (620 Votes)
a Production of dollars worth of agriculture requires inputs of 030 from agriculture 03 from manufacturing and 03 from energy Thus to create 67 billion for agriculture we need 201 billion from    See Answer
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