| OCR Text |
Show the study, which involves the forecasting of aggregate final demand for the State of Utah for the year 1975* Even here, however, the time span ( 12 years) is probably not long enough to seriously affect the water results of the study. Every effort has been made ( short of doing another input- output table for a later year) to ensure the high quality of the data that comprise the input- output table of the State of Utah. One final condition or assumption that we wish to note at the outset of this paper is that we view water as a factor of production which, while it has some degree of substitutibility with other factors of production, must be used jointly with other factors of production to produce an economy's bill of goods. Consequently, water should be viewed as a supporting or contributing factor to the economic growth of the state. It can supply an opportunity for economic expansion, but such an opportunity will not be transformed into actual economic expansion unless there is an expected growth in the aggregate final demand for goods and services produced in the State of Utah. In this report, we first develop the theoretical model which is used to generate our results. In the third section, we present the essence of our previously reported results* While some of the details of that first study are omitted, we have refined our definitions and the analysis. One could understand what is said here without having read the first report. In the fourth section, we present the results of our forecasting of the expected increase in the demand for water intake. Conclusions are presented in the fifth section of the study. 6 |
