Check out the website for FRED Economic Database maintained by the Federal Reserve Bank of St. Louis, much useful economic database maintained by the Federal Reserve Bank of St. Louis. Near the top of the main landing page, type inflation in the search box and press search. Click on Inflation, consumer prices for the United States in the resulting search results.

a. What are the units of this data?

b. What frequency is this data collected?

c. Is this data seasonally adjusted?

d. In relation to the business cycles, when does the inflation rate peak at the beginning or end of a business cycle?

e. Now click on the Download button and then select image, Powerpoint, or PDF. This should download the spreadsheet of the data you see graphed on the main page. Copy and paste this graph into the Word file containing your answers to this problem set.