4) Go to www.bea.gov or http://research.stlouisfed.org/fred2/categories/ or www.bls.gov

You might find using excel for this problem would make your life easier.

i. Find the annual GDP (Gross Domestic Product) price deflator for the period 2015, 2016, 2017, 2018 and 2019.

ii. What does the GDP price deflator measure?

iii. What is the GDP price deflator for 2019? Interpret the 2019 GDP

price deflator.

iv. Using the GDP price deflator calculate the rate of inflation from

2015 - 2016, 2016 - 2017, 2017 - 2018 and 2018 - 2019.

v. One of the components of the GDP Price Deflator is the

Personal Consumption Expenditure (PCE) Price Index. Calculate the rate

of inflation according to the PCE for 2015 - 2016, 2016 - 2017,

2017 - 2018 and 2018 - 2019.