please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of itsoutput to Lumber, 50% to Energy, and retains the rest. Lumber sells 15% of its output to Mining, 40%to Energy, 20% to Transportation, and retains the rest. Energy sells 30% of its output to Mining, 20%to Lumber, 30% to Transportation, and retains the rest. Transportation sells 10% of its output to Mining, 15%to Lumber, 40% to Energy, and retains the rest.a. Construct the exchange table for this economy.b. Find a set of equilibrium prices for this economy.a. Complete the exchange table below.Distribution of Output from:Mining Lumber Energy TransportationPurchased by:.15.3.1Mining125.2.15Lumber.54.24Energy0.2.3.35Transportation(Type integers or decimals.)b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, andTransportation sectors by PM. PL. PE and PT, respectively.If p+ $100, then PM = SPL = $(Round to the nearest dollar as needed.)and PE =$

a). As per the given data Exchange Table is as follows: Distribution Of output From Purchase…

Answered: Suppose an economy has four sectors:…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 15% of its output to Lumber, 50% to Energy, and retains the rest. Lumber sells 15% of its output to Mining, 50% to Energy, 15% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 15% to Lumber, 20% to Transportation, and retains the rest. Transportation sells 10% of its output to Mining, 15% to Lumber, 40% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. a. Complete the exchange table below. Distribution of Output from: Mining Lumber Energy Transportation Purchased by: Mining Lumber Energy Transportation (Type integers or decimals.)
Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 15% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 60% to Energy, 15% to Transportation, and retains the rest. Energy sells 20% of its output to Mining, 20% to Lumber, 25% to Transportation, and retains the rest. Transportation sells 20% of its output to Mining, 15% to Lumber, 60% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. a. Complete the exchange table below. Mining Distribution of Output from: Lumber Energy Transportation Purchased by: (Type integers or decimals.) Mining Lumber Energy Transportation
Suppose an economy has four sectors: Mining, Lumber, Energy, and Transportation. Mining sells 10% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 10% of its output to Mining, 50% to Energy, 15% to Transportation, and retains the rest. Energy sells 30% of its output to Mining, 20% to Lumber, 30% to Transportation, and retains the rest. Transportation sells 25% of its output to Mining, 20% to Lumber, 40% to Energy, and retains the rest. a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy. a. Complete the exchange table below. Distribution of Output from: Mining Lumber Energy Transportation Purchased by: Mining Lumber If PT = $100, then PM = $. PL = $, and PE = $. (Round to the nearest dollar as needed.) Energy Transportation (Type integers or decimals.) b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by PM, PL, PE, and PT,…
Consider an economy of four sectors, Agriculture, Energy, Manufacturing, and Transportation. Agriculture sector sells 12% of its output to Energy, 35% to Manufacturing, 25% to Transportation and retains the rest. Energy sector sells 30% of its output to Agriculture, 30% to Manufacturing, 15% to Transportation and retains the rest. Manufacturing sector sells 30% of its output to Agriculture, 27% to Energy, and retains the rest. Transportation sector sells 20% of its output to Agriculture, 10% to Energy, 30% to Manufacturing and retains the rest. a. Construct the exchange table for this economy. b. Write down the system of linear equation that leads to prices at which each sector’s income matches its expenses, and solve these equations by Gaussian method to find these prices.
Suppose an economy has four sectors: Mining Lumber, Energy, and Transportation Mining sells 10% of its output to Lumber, 60% to Energy, and retains the rest. Lumber sells 5% of Kits output to Mining, 60% to Energy, 25% to Transportation, and retains the rest. Energy sells 30% of its output to Mining, 15% to Lumber, 25% to Transportation, and retains the rest. Transportation sells 25% of its output to Mining, 15% to Lumber, 50% to Energy, and retains the rest a. Construct the exchange table for this economy. b. Find a set of equilibrium prices for this economy a Complete the exchange table below Distribution of Output from: Mining Lumber Energy Transportation (Type integers or decimals b. Denote the prices (that is, dollar values) of the total annual outputs of the Mining, Lumber, Energy, and Transportation sectors by P. PL. PE, and Pr respectively If p₁-$100, then pµ-$___‚ p_ - $¯¯¯‚ and pµ- (Round to the nearest dollar as neaded Purchased by: Mining Lumber Energy Transportation 1-57
Assume that an economy is based on three industrial sectors: agriculture (A), building (B), and energy (E). The technology matrix M is: A BE uarruarruarr (4 [0.6 0.2 0.1 0.4 0.1 0.1 0.4] 0.1 0.1 B 0.1 M How much input from A, B, and E are required to produce a dollar's worth of output for B? How much input from A is required to produce a dollar's worth of output for B? How much input from B is required to produce a dollar's worth of output for B? How much input from E is required to produce a dollar's worth of output for B ? Assume that an economy is based on three industrial sectors: agriculture (A), building (B), and energy (E). The technology matrix M is: A BE ↑ ↑ ↑ A-> 0.6 0.2 0.1 B-> =M 0.1 0.4 0.1 E-> 0.1 0.1 0.4 How much input from A, B, and E are required to produce a dollar's worth of output for B? How much input from A is required to produce a dollar's worth of output for B? How much input from B is required to produce a dollar's worth of output for B? How much input from E…
A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $30,000 a year, and take over a restaurant space that he owns and currently rents to his brother for $24,000 a year. His expenses at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. Suppose the sushi bar’s revenue from the first year is $120,000. What is the chef’s economics profit? 14,000 -14,000 66,000 68,000
9. A Suppose another economy has two goods: iron and copper. The production of one unit of iron requires 0.1 units of iron and 0.2 units of copper. The production of one unit of copper requires 0.8 units of iron and 0.6 units of copper. What is the demand met by producing 50 units of iron and 40 units of copper? B. Using the same technology matrix as the previous problem, find the production schedule required to meet a demand of 200 units of iron and 100 units of copper.
Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity. Inputs and Outputs Hairstyles per week Labor costs per week Energy costs per week Material costs per week Capital investment Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Current (this year) % haircuts/dollar haircuts/dollar haircuts/dollar * haircuts/dollar Expected (next year) X Labor Energy Material Total What is the percentage change in total productivity? Do not round intermediate…
Let's think of an economy with two industries and these industries be water and electricity companies. Electricity company, electricity using water and electricity; The water company also produces water using water and electricity. With the output of both companies measured in TL, 0.1 TL electricity and 0.1 TL water is required to produce 1 TL of electricity, 0.8 TL electricity and 0.2 TL water to produce 1 TL water. As the demand of the foreign sector is 18.000 TL electricity and 12.000 TL water production, X1 = total output of the electricity company, X2 = total output of the water company, electricity and waterCalculate the total output required for the companies to meet both external and internal demand by any matrix method.
Consider a hotel in Krems whose yearly gross value-added (GVA) equals 1 million euros. The following services are not produced by the hotel but outsourced to other Lower Austria companies: -Linen cleaning, whose services for that hotel amount to 100.000 euros in terms of GVA -Advertisement, whose services for that hotel amount to 50.000 euros in terms of GVA In addition, the hotel needs the following inputs: -Food and beverages, for which it pays 300.000 euros, of which 200.000 euros are produced in Lower Austria, 50.000 euros in the rest of Austria and 50.000 abroad. -Energy, for which it pays 100.000 euros, of which 50.000 euros are produced in Upper Austria, of which 25.000 euros imports are needed, the rest is directly imported from abroad. Calculate direct and indirect GVA impact of Lower Austria and Austria.
Assume an economy where there are two producers: a wheat producer and a bread producer. In agiven year, the wheat producer grows 3 million tonnes of wheat, of which 2.5 million tonnes aresold to the bread producer at $30 per bushel, and 0.5 million tonnes are stored by the wheatproducer to use as seed for next years crop. The bread producer produces and sells 100 millionloaves of bread to consumers for $3.50 per loaf. Determine GDP in this economy during this yearusing the product and expenditure approaches.

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