A Simple Economy Consists of Three Sectors: Agriculture (A), Manufacturing

question 178

Multiple Choice

A simple economy consists of three sectors: agriculture (A) , manufacturing (M) , and transportation (T) .The input-output matrix for this economy is given by A M T Find the value of goods and transportation consumed in the internal process of production to satisfy a consumer demand for $100 million worth of agricultural products, $100 million worth of manufactured products, and $30 million worth of transportation.

• A) $142.09 million, $88.09 million and $74.83 million worth of agricultural products, manufactured goods and transportation respectively
• B) $142.09 million, $80.16 million and $88.40 million worth of agricultural products, manufactured goods and transportation respectively
• C) $131.64 million, $88.09 million and $88.40 million worth of agricultural products, manufactured goods and transportation respectively
• D) $131.64 million, $80.16 million and $74.83 million worth of agricultural products, manufactured goods and transportation respectively

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Definitions:

Price Affect Demand

The relationship between the price of a good or service and the willingness of consumers to buy it, where typically, a higher price leads to lower demand and a lower price leads to higher demand.

Renal Papillae

The apexes of the renal pyramids, which project into the minor calyces of the kidney and through which urine flows into the ureters.

Minor Calyces

Small, funnel-shaped structures in the kidneys that collect urine from the renal pyramids and convey it to the major calyces.

Major Calyces

The large passageways in the kidney that collect urine from the minor calyces and funnel it into the renal pelvis.