The output and prices of goods and services in Zetaland are shown in the table below. 2015 Quantity 2015 Price (base year) 2020 Quantity 2020 Price Food 8 $2.5 10 $2.5 Clothing 10 $6 15 $10 Entertainment 2 $4 5 $5 a. Assuming that 2015 is the base year, calculate each of the following. i. The nominal gross domestic product (GDP) in 2020 ii. The real GDP in 2020 b. If in one year, the price index is 100 and in the next year, the price index is 125, what is the rate of inflation form one year to the next? C. Assume that next year's wage rate will be 2 percent higher than this year's because of inflationary expectations. The actual inflation rate is 4 percent. At the beginning of next year, will the real wage be higher, lower, or the same as today? d. Assume that Mark gets a fixed-rate loan from a bank when the expected inflation rate is 2 percent. If the actual inflation rate turns out to be 1.4% percent, who benefits from the unexpected inflation: Mark, the bank, neither, or both? Explain