1. (1 mark) Bob borrowed $300 from Anwar last year and agreed to repay $330 this year. The inflation rate during the duration of the loan was expected to be 5%, but turned out to be 3%. Bob ended up paying percent in real terms. 2. (1 mark) In December 2021, Canada had a population of 38 million, a working-age population of 31.5 million, labor force of 20.6 million, and the number of employed workers was 19.4 million. The unemployment rate in December 2021 was percent. 3. (1 marks) Real GDP per capita in India grew at an annual average rate of 3.8% per year between 1970 and 2010. If it continued to grow at this rate, approximate the number of years it will take to double its real GDP per capita. years. 4. (1 mark) Which of the following counts as investment (1) in GDP accounting: a. Telus Corporation pays interest on their debt. b. Households invest their wealth in gold. c. A developer builds a new residential building. d. Your friend purchases stocks from the Toronto Stock Exchange. e. None of these 5. (1 mark) When would one-year loans be the most attractive to borrowers? a. High inflation rate, high nominal interest rate b. High inflation rate, low nominal interest rate C. Low inflation rate, low nominal interest rate d. Low inflation rate, high nominal interest rate e. Inflation rate does not matter, high nominal interest rate