The economy of a small country can be regarded as consisting of three industries

Question

The economy of a small country can be regarded as consisting of three industries, I, II, and III, whose input-output matrix is I II III A= I II III [0.20 0.01 0.30 0.30 0.10 0.02 0.05 0.40 0.10] The entry in the third row, second column of matrix A means that to make $1 worth of output, industry II needs $0.40 worth of input from industry III. industry II uses 40% of industry III's output. to make $1 worth of output, industry III needs $0.40 worth of input from industry n. industry III uses 40% of industry II's output. none of these

Explanation / Answer

D.) Industry III uses 40% of industry II's output

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