Suppose the Technology Matrix for a Closed Model of a Simple

question 49

Multiple Choice

Suppose the technology matrix for a closed model of a simple economy is given by matrix A. Find the gross productions for the industries. ​ ​

• A)government = Households, industry = Households
• B)government = Households, industry = Households
• C)government = Households, industry = Households
• D)government = Households, industry = Households
• E)government = Households, industry = Households

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Definitions:

Household Members

Household members are individuals who live together in the same housing unit, sharing living accommodations and often related by blood, marriage, or cohabitation.

Poverty Programs

Government or institutional initiatives designed to reduce or eliminate poverty by providing assistance and support to those in financial need.

Poverty Line

The minimum level of income deemed adequate in a particular country, below which individuals or families are considered to be in poverty.

Welfare State

The collection of government programs designed to alleviate economic hardship.