The following problem refers to a closed Leontief model.
Suppose the technology matrix for a closed model of a simple economy is given by matrix A. Find the gross productions for the industries. (Let H represent the number of household units produced, and give your answers in terms of H.)
G I H
A =
0.4 0.2 0.2
0.2 0.5 0.5
0.4 0.3 0.3
Government
Industry
Households
Suppose the technology matrix for a closed model of a simple economy is given by matrix A. Find the gross productions for the industries. (Let H represent the number of household units produced, and give your answers in terms of H.)
G I H
A =
0.4 0.2 0.2
0.2 0.5 0.5
0.4 0.3 0.3
Government
Industry
Households