The website

https://fred.stlouisfed.org/

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1 Data: Measurement of Economic Activity In this section you will look at measures of prices. In general, you want to look at percent changes comparing one year to the next. You might also find a "seasonally adjusted" version of the measure, which will let you look at percent changes from one month or one quarter to the next. Try both if you can. Are they quite different? Also, while you could go to the government websites and directly download these series, I think FRED from the St Louis Fed will be much more time efficient. 1. Plot the year-year percent change in the Consumer Prince Index and the Personal Consumption Expenditure Deflator. Which measure of the price level grows more quickly? Why? 2. Plot the year-year percent change in the Personal Consumption Expendi- ture Deflator, the same, but excluding food and energy and the "trimmed mean" PCE deflator? How do they differ in their construction and behav- ior (this may require you to Google a bit). 3. In "Fixed Investment" (roughly that's investment that's not inventories), there are two broad categories, structures and equipment. The former refers to building and equipment are the things that go into the buildings. Plot the year-year percent change in price deflators for these two GDP components. What's the difference and why?