. In this exercise your goal is to calculate an ination rate shown in the third lecture. For this exercise you should use Excel or your favorite software package. (a) Download the quarterly and seasonally adjusted Consumer Price Index for All Urban Consumers: All Items data from the FRED website. (b) Calculate the annual ination rate time series from this data as the year-overyear percentage change in the price index. For example, P1980Q1 - P1979Q1 (16) 771980Q1 : P1979Q1 (c) Submit as a response to this exercise your graph of your calculated ination rate as a function of time. Use the graph shown on slide 7 of lecture 3 as an example of what you need to include in this graph: 1. Label both the x-axis and the y-axis and include the units in the labels. ii. Label your calculated ination either through a data key (as shown in the class slide) or as the title of your graph. iii. Annotate your graph with the source of your data