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This paper provides the first detailed insights into the ultrahigh-frequency behavior of graphene ribbons (GRs) and analyzes their consequences in designing interconnects and low-loss on-chip inductors. In the companion paper (part I), an accurate impedance modeling methodology has been developed based on the Boltzmann equation with the magnetic vector potential Green's function approach incorporating the dependency of current on the nonlocal electric field. Based on the developed methodology, this paper for the first time embarks on the rigorous investigation of the intricate processes occurring at high frequencies in GRs, such as anomalous skin effect (ASE), high-frequency resistance and inductance saturation, intercoupled relation between edge specularity and ASE, and the influence of the linear dimensions on impedance. A comparative study of the high-frequency response of GRs with that of carbon nanotubes (CNTs) and Cu is made to highlight the potential of GR interconnects for high-frequency applications. Subsequently, the high-frequency performance of GR inductors is analyzed, and it is shown that they can achieve 32% and 50% improvements in maximum Q-factor compared to Cu and single-walled CNT inductors with 1/3 metallic fraction, respectively.