\fQ3 The actual real GDP of Australand this year is $677 billion. The average long term growth rate of the economy is 3.4%. The economic advisors of the country have drawn up next year's aggregate demand and aggregate supply schedules of Australand, which are shown below. Real GDP SR real GDP demanded supplied LR aggregate CPI supply (billions of constant dollars) 95 730 690 100 720 700 105 710 710 110 700 720 115 690 730 120 680 740 125 670 750The current CPI is 100. Based on the above information, answer the following questions. (a) What the forecast of next year's real GDP? What is the predicted inflation rate? Will the economy experience an inflationary or a recessionary gap? Will there be an upward or downward pressure on wage rates