no need for explanation, just double checking my answers, thank you;

1) Of the following sectors, which has experienced the greatest inflation since 1984?

a) Prescription drugs

b) College tuition

c) Housing

d) Medical care

2) According to the NBER, the recession that began in December 2007 ended in July 2009.This means that in July 2009:

a) the economy had returned to full employment

b) the level of economic activity stopped declining

c) inflation began to increase on an annual basis

d) the stock market had gained back its previous losses

3) The best way to describe the resource allocation system in the U.S. is that it is consistent with:

a) Mercantilism

b) Socialism

c) Welfare capitalism

d) A closed economy

4) If a bank makes a 12 month loan with an annual interest rate of 8 percent and inflation is 5 percent during those 12 months, what is the real rate of return that the bank will earn on its loan?

a) 13 percent

b) 3 percent

c) 8 percent

d) 5 percent

5) Suppose a city has a non-institutional population of 500,000, a labor force of 400,000 and a level of employment of 360,000.

What is the city's labor force participation rate?

a) 80 percent

b) 90 percent

c) 72 percent

d) 60 percent