I have posted the questions in the file attached belowAGEC 390Homework Set #3 1. Given the data contained in the Homework #3 supplement for Question 1 (the tab on the bottom of the Excel spreadsh

I have posted the questions in the file attached below

AGEC 390

Homework Set #3

1.     Given the data contained in the Homework #3 supplement for Question 1 (the tab on the bottom of the Excel spreadsheet), answer the following questions.

(a) Calculate the national growth component (in jobs) expected for the Healthcare industry in Weakley County for 2007.  (10 points)

(b) Calculate the industrial mix component (in %) expected for the Healthcare industry in Weakley County.  (5 points)

(c) Calculate the competitive share component (in %) expected for the Healthcare industry in Weakley County.  (5 points)

(d) From the metrics you calculated above, is the Healthcare industry in Weakley County growing faster or slower than the national average?  Provide support for your answer. (5 points)

2.   Given the data contained in the Homework #3 supplement for Question 2 (the tab on the bottom of the Excel spreadsheet), answer the following questions.

(a) Calculate the Location Quotient (LQ) for the Retail Trade industry by using Weakley County as the local employment sector (the numerator in the LQ formula) and the entire four county region’s Retail Trade industry as the denominator in the LQ formula. As a hint I have highlighted the total employed workforce in Yellow and the number of workers employed in the Retail Trade industry for each county in Orange.  (20 Points)

(b) Using the decision rules discussed in the lectures about interpreting the value of LQ, would you conclude that Weakley County is self sufficient, importing or exporting goods developed from the Retail Trade industry?  Why? (5 Points)

3.     Given the data below from an Input/Output (I/O) analysis, answer the following questions.

Data from Input/Output (IO) Analysis

Total

Output

Direct

Change

Income

Industry

Factor

Coefficient

Agriculture

$1.22

0.65

Manufacturing

$0.43

0.56

Trade

$0.35

0.33

Services

$0.67

0.84

Healthcare

$0.12

0.18

(a) Calculate the income multiplier for Agriculture. (20 Points)

(b) Interpret the Income Multiplier for Agriculture by explaining what it means.  (5 Points)

4.  Discuss the role of Agriculture in the larger macro economy. Make sure to discuss both the contributions and societal costs. (25 Points)