Consider an open economy with consumption matrix
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Consider an open economy with consumption matrix

5. Consider an open economy with consumption matrix


If the open sector demands the same dollar value from each product-producing sector, which such sector must produce the greatest dollar value to meet the demand? Is the economy productive?

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Mathematics"To commence an input-output procedure for analysis, the initial creation of any economy’s input-output matrix remains indispensable. An input-output’s matrix purpose is depicting how a single industry’s goods acquire consumption in other industries. An economy’s production sector acquires representation from rows of a matrix. "...
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