1. If there are 75 people employed, 25 people unemployed, and 50 people not in the labor force, what is the size of the labor force and what is the size of working age population? (show your calculation) a) 170; 50 b) 50: 75 c) 100: 150 d) 100: 75 2. If there are 25 people employed, 20 people unemployed, and 30 people not in the labor force. what is the labor force participation rate? (show your calculation) a) 44% b) 50% c) 60% d) 36% Problem 1 (30 points) Unemployment Fill in the missing values in the table of data collected in the household survey in Kuwait (2017): Working population Employment Unemployment Unemployment rate 2.33% Labor force 2,100,348 Labor free articipation rate 76.55% Show all steps with calculations Problem 2 (20 points) Inflation Product Quantity Price Price Price (base year, 2011) (hase year, 2011) (2019) (2020) Burgers 50 KD 1.5 KD 2 KD 2.25 Doctor's service 10 75 70 Computers 250 350 350 Calculate inflation rate in 2020. Show all steps with calculations and explain 3 Problem 3 (20 points) Adjusting for the effects of inflation Year Average nominal salary CPI Average real salary per year 1989 KD 500,000 134 2019 KD 580.000 346 1. Find the average real salary in 1989 and 2019 2. Calculate the percentage change in real average salary from 1989 to 2019 Problem 4 (20 points) Adjusting for the effects of inflation Evan borrowed USD 40,000 at the nominal interest rate of 7% per year for the period of 12 months. Inflation during this year is 3%. 1. Calculate the principal and interest rate amounts for this loan