Solve the Problem. -An Economy Is Based on Two Sectors, Agriculture and Manufacturing

question 41

Essay

Solve the problem.
-An economy is based on two sectors, agriculture and manufacturing. Production of a dollar's worth of
agriculture requires an input of $0.40 from agriculture and $0.10 from manufacturing. Production of a dollar's
worth of manufacturing requires an input of $0.20 from agriculture and $0.30 from manufacturing. Find the
output for each sector that is needed to satisfy a final demand of $16 billion for agriculture and $32 billion for
manufacturing.

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Definitions:

Military Reconstruction Act

Legislation passed in 1867 during the Reconstruction era in the United States, which outlined the terms for readmitting Southern states into the Union.

White Conservatives

A political ideology commonly associated with the right-wing, emphasizing traditional social orders, limited government, and, historically, opposition to rapid social change.

Congress's Reconstruction

Refers to the period after the Civil War when the U.S. Congress implemented laws and policies to rebuild and reorganize the Southern states.

Polls

Surveys of public opinion from a particular sample, often used in predicting election outcomes or gauging public attitudes on issues.