Using the growth accounting equation, if the growth rate of out is 5%, the growth of labor is 3% and the growth of capital is 2% then if α=0.75 then growth of technology can be estimated to be:

What is meant by diminishing marginal benefits? Are you likely to experience diminishing marginal benefits for goods that you like a lot? Are there exceptions to the general rule of diminishing marginal benefits? (Hint: think about batteries that you

would use in a flashlight that requires two batteries.) Explain your answer.

"Hidden" or "disguised" unemployment consists of:

a. involuntary part time work b. loss of overtime c. shortened work hours d. All of the above. e. b and c only