Question 12 (1 point) B In 2014 Robinson\'s nominal income rose by 4% and the pr

Question

Question 12 (1 point) B In 2014 Robinson's nominal income rose by 4% and the price level rose by 6%. What can we conclude about Robinson's real income? A) It fell by 2% B) It rose by 296. C) It fell by 2.4%. D) It rose by 10%. It may have either increased or decreased. Save Question 13 (1 point) B Which of the following people would be regarded as unemployed according to the StatsCan definition? A) A homemaker who does volunteer work with the local library. B) A retired schoolteacher who is seeking a part-time job at the local library. C) A homemaker on vacation with the family. D) A steelworker who, laid off a year ago, has given up looking for a job O E) A homemaker who works 5 hours per week at the minimum wage at the local ibrary

Explanation / Answer

12) The asnwer is A -) it fell by 2%

because real income = ( 4 % - 6% ) = - 2%

13) The asnwer is B -) A retired school teacher who is seaking a part-time job at the local library .

A retired school teacher who is currently looking for a job and thus school teacher consist in the labor force . so he is unemployed.

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