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The data below show the nominal interest rate and the inflation rate for several developed economies as reported in The Economist in February 2018. a. Compute the real interest rate for each country, assuming that people expected the inflation rate at the time to persist. Nominal Interest Rate Inflation Rate (% change Real Interest Country (on 10-year government bonds) in CPI from previous year) Rate (%) Australia 2.82 1.9 Canada 2.36 1.9 Euro Area 0.70 1.3 Japan 0.07 1.1 Switzerland 0.15 0.8 U.K. 1.59 3.0 U.S.A. 2.79 2.1