Open Leontief Model. Suppose the interrelaUonships between the production of two

Question

Open Leontief Model. Suppose the interrelaUonships between the production of two industries H and 5 in a given year are given in the table. Complete the following 2 by 2 input-output matrix A of the Open Leontiet Model developed based on the information provided in the table. Rewrite the matrix by rounding the entries of the matrix to the nearest hundredth. b) Determine matrix I - A and find its inverse using row operations. If the forecast demand in two years is given by the column matrix D = what should be the output X be?

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