The following table shows the output of an economy.

	2018 (Base Year)	2019
	Price ($)	Quantity	Price ($)	Quantity
Corn	8	500	9	700
Natural Gas	25	900	26	900
Wheat	5	450	6	300

(i) Calculate the nominal GDP and real GDP of the economy for 2019. (ii) Calculate the economic growth rate of the economy from 2018 to 2019. (il) If the information in the table also represents the expenditure of a typical household, calculate the CPI and inflation rate of the economy in 2019. (iv) State and explain TWO (2) reasons why the inflation rate calculated in part (iii) might not be an accurate indicator of changes in the cost of living. (v) Based on the economic indicators computed, discuss how the standard of living and rate of cyclical unemployment in the economy changed from 2018 to 2019. (Assume that the population size remained constant).