Using the growth accounting equation, if the growth rate of output is 5%, the growth of labor is 2% and the growth of capital is 2% then if ?=0.50 then growth of technology can be estimated to be:

The FOMC ________

A) meets four times a year to decide on how to conduct open market operations that influence the money supply B) meets six times a year to decide on how to conduct open market operations that influence the money supply and interest rates C) meets eight times a year to decide on how to conduct open market operations that influence the money supply and interest rates D) meets twelve times a year to decide on how to conduct open market operations that influence interest rates E) none of the above

Which of the following expenditures are included in consumption?

A. Personal medical services. B. Police services. C. Public parks. D. Public highways.