Mathematics · Input-Output Analysis
The correct sequence of steps to perform Input-Output analysis using the Leontief model is:
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- 1Solve system of equations directly → Verify consistency → Compute outputs
- 2Find eigenvalues of A → Check if all are less than 1 → Compute inverse → Multiply
- 3Collect final demand data → Compute gross output → Derive technology matrix → Verify equilibrium
- 4Construct technology matrix A → Compute (I-A) → Check Hawkins-Simon conditions → Compute (I-A)-1 → Multiply by final demand d✓
Correct answer
Construct technology matrix A → Compute (I-A) → Check Hawkins-Simon conditions → Compute (I-A)-1 → Multiply by final demand d
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