dancerk2012
New member
- Joined
- Nov 6, 2011
- Messages
- 1
The economy is based on agriculture, mining, and forestry.
A M F
(matrix)
A.) Is this an open or closed model? How can you tell from the matrix? How can you tell from the economic reality?
B.) If it is open, list at least one thing that is imported into the system and at least one thing that is exported out.
C.) How many units of agriculture are required to produce 10 units of agricultural products? 10 units of mining?
D.) suppose we want a surplus of 100 units of agricultural products, 900 units of mining, and 200 units of forestry. Find the gross production matrix (also called the output matrix). You will want to use a calculator or excel to find the inverse matrix required.
Please help i don't understand this!
A M F
| .5 | .2 | .4 |
| .3 | .4 | .2 |
| .1 | .3 | .3 |
| A |
| M |
| F |
A.) Is this an open or closed model? How can you tell from the matrix? How can you tell from the economic reality?
B.) If it is open, list at least one thing that is imported into the system and at least one thing that is exported out.
C.) How many units of agriculture are required to produce 10 units of agricultural products? 10 units of mining?
D.) suppose we want a surplus of 100 units of agricultural products, 900 units of mining, and 200 units of forestry. Find the gross production matrix (also called the output matrix). You will want to use a calculator or excel to find the inverse matrix required.
Please help i don't understand this!