Consider an international trade model consisting of three countries X, Y, and Z. Suppose X uses of its production domestically, sends of its production to Y, and sends of its production to Z. Suppose Y uses of its production domestically, sends of its production to X, and sends of its production to Z. Suppose Z uses of its domestic goods, sends of its production to X and sends of its production to Y. Assume this is a closed Leontief model. If we know country Z produced 316 thousand units of goods, then country X produces thousand units of goods. thousand units of goods and country Y produces
Consider an international trade model consisting of three countries X, Y, and Z. Suppose X uses of its production domestically, sends of its production to Y, and sends of its production to Z. Suppose Y uses of its production domestically, sends of its production to X, and sends of its production to Z. Suppose Z uses of its domestic goods, sends of its production to X and sends of its production to Y. Assume this is a closed Leontief model. If we know country Z produced 316 thousand units of goods, then country X produces thousand units of goods. thousand units of goods and country Y produces
Chapter28: International Trade
Section: Chapter Questions
Problem 2P
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