Hi, just stuck with answering a few of these questions. Thank you so much!

Q7.

Suppose that the adult population consists of 19.04 million, those not in the labour force are 7.56 million and the number of unemployed is 0.88 million. Prior to the calculation of these figures, 0.1 million people dropped out of the labour force as they were unable to find suitable work. What is the total number of employed? Answer in the millions, rounded to 1 decimal place

Q8.

If the bank posts a nominal interest rate of 7 per cent per year and the inflation rate is 4 per cent per year, then what is the real interest rate? Answer as a percentage

Q11.

Which of the following variables is not a real variable?

a. The amount of corn

b. The nominal interest rate adjusted for inflation

c. the dollar wage

d. the price of bananas relative to the price of oranges

Q12.

A fall in the amount of inflation, given a fixed interest rate will cause:

a. the nominal interest rate to rise

b. The nominal interest rate to fall

c. The real interest rate to fall

d. The real interest rate to rise

Q13. in which situation is the real interest rate the lowest?

a. The nominal interest rate is 11% and the inflation rate 9%.

b. The nominal interest rate is 8% and the inflation rate 5%.

c. The nominal interest rate is 2% and the inflation rate 1%.

d. The nominal interest rate is 25% and the inflation rate 30%.

Q15.

Masako buys a house in 1999. She obtains a mortgage that carries an annual interest rate of 12 per cent, and makes payments of $880 per month. The CPI in 1999 is 100, in 2000 it is 110, and in 2001 it is 120. What is the real interest rate in 2001?

a. 4 per cent

b. 9 per cent

c. 3 percent

d. 21 per cent