Q. Suppose you are working for an organization earning $45,000 and you decide to quit and start your own consulting business. Your first year in operation you gross $60,000 but spend $25,000 to get started. What is your accounting profit for your first year? What I the economic profit for your first year? What accounts for the difference between accounting and economic profit? Q. How would the Fed respond to economic growth that it deems is rising too quickly? Q. Why is it important to pay attention to interest rates as facility manager