An important application in the study of economics is the study of the relationship between industrial production
Question:
Here is an input-output matrix, [A], for a simple three-sector economy:
For instance, the first column tells the economist that to produce an output of 1 unit of agricultural products requires the consumption (input) of 0.2 unit of agricultural products, 0.2 unit of manufacturing products, and 0.1 unit of service products.
The demand matrix, [D], represents millions of dollars. Use the equation [X] - [A][X] = [D] to find the output matrix, [X].
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Related Book For
Discovering Advanced Algebra An Investigative Approach
ISBN: 978-1559539845
1st edition
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
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