Why is the empty set bounded?
Solution 1:
Recall that implication has the property that when the assumption is false, the implication is true. In other words, if $P$ is false, then $P\implies Q$ is true.
Let $S$ be a set of real numbers. Then $M$ is an upper bound for $S$ if the following implication holds, $$s\in S\implies s \leq M.$$ Now let us examine the case for the empty set, $\emptyset$.
Proposition Let $M$ be any real number. Then $M$ is an upper bound for the empty set (of real numbers).
Proof:
Since the statement, $s\in\emptyset$ is false, the implication, $$s\in\emptyset\implies s \leq M$$ is true.
Note: An almost identical proof works for the lower bound case. A nice little slogan to remember here is
All things are true about the MEMBERS of the empty set.
Solution 2:
Argue by contradiction. Suppose $\emptyset$ is unbounded. Then for every $M > 0$ there is a point $x \in \emptyset$ such that $|x| > M$. But this contradicts that the empty set has no elements.