The table below is extracted from Happy land Republic, Bureau of Statistics records for 2018-2019. Use the information in this table to answer the questions that follow. Item Base year 1201 5) 2016 Production Price Production Price Used car sales 5,000 2000.00 6,000 2,500 1200-00 Cloth sales 35.00 Beef sales 12.00 Milk litres sales 2.50 Com uuters sales 800.00 Printers sales 500 300.00 400 355.00 Raw maiem's f'" "3\"\" 4500 250.00 4450 300.00 assembling plant sales i. Calculate Happy Land Republic's nominal GDP and real GDP in 2016 ii. Why does real GDP always defer from nominal GDP? i. Use two diagrams to explain the effects of the determinants of aggregate demand on real GDP in a nation. ' ii. Suppose there is an expectation of a rapid general price increase in goods and services in Australia in January 2021. Examine the effects of the anticipated general rapid increase in price for goods and services. The graph below represents sales per week of ABC Inc. Ltd, a monopoly multinational enterprise that supplies Hitech components. Use the graph to answer the questions that follow. ABC Inc. Ltd mired Component sales Per week 7D 30 20 10 Quantity i. State the elasticity of the monopoly tirm demand curve. ii. Considering the figure, examine the benets of the characteristics of the monopoly demand curve to ABC Inc. Ltd. iii. Suppose the demand and cost curves result in ABC Inc. Ltd earning an economic prot' t Do you think ABC Inc. Ltd t' rm will earn prot' t In the long- run? Explain your answer. Assume all factors constant. iv. Examine the effects of ABC Inc. Ltd on consumers