Only provide the answers, Thank you!

QUESTION 1 An Australian wool farmer sells $10,000 worth of raw wool to an Italian mill. In the same year, the Italian mill sells some processed yarn for $2000 to an Australian yarn shop, which then sells them to consumers in Australian for $3000. The consumers pays $200 (in addition to the yarn) to a courier service for delivery. How do the above transactions affect Australia's GDP in that year? Decrease Australia's GDP by $5200. Increase Australia's GDP by $3200. Increase Australia's GDP by $11,200. Increase Australia's GDP by $12,800. QUESTION 2 Which of the following transactions counts towards Australia's GDP? (All activities take place in Australia.) Aiko buys a new fridge to replace an old one damaged in the flood. Boaz volunteers to clean up the mud after a flood. Centrelink (Australian government welfare services) makes a flood relief payment to residents of Lismore (a town in Australia). All of the above.QUESTION 3 There are only two goods on Rainbow Island: Coconut and Fish. The following table gives the prices and quantities of coconut and sh produced on Rainbow Island in 2010 and 2020. 2010 2020 Price Quantity Price Quantity Coconut $3 650 $4 800 Fish $5 120 $8 140 Which of the following two statements is/are correct? I. Rainbow Island's nominal GDP in 2020 is $4320. ll. Using 2010 as the base year, Rainbow Island's real GDP in 2020 is $3100. 0 Only I. 0 Only II. 0 Neitherlnorll. 0 Both | and II. QUESTION 4 If the general price level has been decreasing since the base year, 0 nominal GDP will grow faster than real GDP. 0 real GDP will grow faster than nominal GDP. 0 nominal GDP will grow at the same rate as real GDP. 0 there is not enough information to determine the relationship between nominal and real GDP. QUESTION 5 Economists do not consider real GDP an accurate measure of well-being because: 0 It can overstate an economy's performance when there is inflation. 0 It does not account for underemployment. 0 It does not adjust for externalities. 0 All of the above