I am trying to verify if my answers are correct. Please give a brief description

Question

I am trying to verify if my answers are correct. Please give a brief description on why you choose the answer. Thanks :-)

Multiple Choice (3 pts each)
Identify the choice that best completes the statement or answers the question.

____ 19. If the nominal interest rate is 4 percent and the real interest rate is -2.5 percent, then the inflation rate is
a. -6.5 percent.
b. -1.5 percent.
c. 1.5 percent.
d. 6.5 percent.


____ 20. Who is included in the labor force by the Bureau of Labor Statistics?
a. Aibne, who works most of the week in a steel factory
b. Modlen, who is waiting for her new job at the bank to start
c. Wyclef, who does not have a job, but is looking for work
d. All of the above are included in the labor force.


____ 21. Zeeman is a college student who is not working or looking for a job. The Bureau of Labor Statistics counts Zeeman as
a. unemployed and in the labor force.
b. unemployed, but not in the labor force.
c. in the labor force, but not unemployed.
d. neither in the labor force nor unemployed.

Explanation / Answer

Multiple Choice (3 pts each)
Identify the choice that best completes the statement or answers the question.

____ 19. If the nominal interest rate is 4 percent and the real interest rate is -2.5 percent, then the inflation rate is
a. -6.5 percent.
b. -1.5 percent.
c. 1.5 percent.
d. 6.5 percent.

Nominal rate= inflation + real rate

4= inf -2.5
inflation= 4+2.5

           = 6.5%

d. 6.5 percent.

____ 20. Who is included in the labor force by the Bureau of Labor Statistics?

d. All of the above are included in the labor force.

All the above,. labor force include working people and also people willing to work.


____ 21. Zeeman is a college student who is not working or looking for a job. The Bureau of Labor Statistics counts Zeeman as

d. neither in the labor force nor unemployed.

Students, discouraged workers, retired people, prisoners ect are not included in the labor force..

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