7. (14 points) Two sectors of an economy are 1) manufacturing and 2) transportation. The input-output...

 

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7. (14 points) Two sectors of an economy are 1) manufacturing and 2) transportation. The input-output table involving these two sectors was as follows (all figures are in millions of dollars) a. To From Manufacturing Transportation 42 32 C. Manufacturing Transportation Total Output (2 points) Report the technology matrix. 22 160 38 180 b. (4 points) Fill in the blanks below. (Round to two decimal places or use fractions): In order to produce $1 million worth of transportation, we use $ million in manufacturing and $ million in transportation. (4 points) Determine the production level required to meet an external demand of $230 million of manufacturing and $420 million in transportation. State your answer in a sentence with units. Round to three significant digits. d. (4 points) How much of each sector gets used up in the production found in part c. State your answer in a sentence with units. 7. (14 points) Two sectors of an economy are 1) manufacturing and 2) transportation. The input-output table involving these two sectors was as follows (all figures are in millions of dollars) a. To From Manufacturing Transportation 42 32 C. Manufacturing Transportation Total Output (2 points) Report the technology matrix. 22 160 38 180 b. (4 points) Fill in the blanks below. (Round to two decimal places or use fractions): In order to produce $1 million worth of transportation, we use $ million in manufacturing and $ million in transportation. (4 points) Determine the production level required to meet an external demand of $230 million of manufacturing and $420 million in transportation. State your answer in a sentence with units. Round to three significant digits. d. (4 points) How much of each sector gets used up in the production found in part c. State your answer in a sentence with units.

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a Report the technology matrix The technology matrix is calculated by dividing each entry in the inputoutput matrix by the sum in its column So here t... View the full answer