You have the following five statements. Indicate which statement is correct and which statement is wrong. You don't need to explain the correct statement(s), however for the incorrect statement(s), please explain why it is wrong.

i) If 1991 nominal GDP is $600b and the price index is 120 then real GDP in 1991 is $500b 1991 dollars.

ii) If AD for goods and services exceeds output by $130 million, the national accounts statistician increases the category "investment in inventories" by $130 million.

iii) If GDP calculated by adding up expenditures increases by $10 million compared to last year, we can conclude that people's well-being increase by $10 million.

iv) If number of discouraged workers increases by 1,000, the labour force decreases by 1,000 people.

v) If I celebrate by dipping into my savings to buy a $50 bottle of French champagne, this increase in imports decreases measured GDP by $50.