Input-Output models Flashcards
1
Q
What does IO models describe?
A
National economies, particularly interaction between sectors of th economy
2
Q
What are the strengths of IO models?
A
Describe quantitative relations in an economy and to include emissions of various pollutants
3
Q
What is the Leontief production structure?
A
No substitution of production factors
4
Q
What are the weaknesses of IO models?
A
Strongly demand driven
