Log on to the Bureau of Economic Analysis Gross Domestic Product website athttp://www.bea.gov/national/index.htm#gdp, and the "Latest Numbers" on the right-hand side of the Bureau of Labor Statistics website athttp://www.bls.gov.Use both of these websites to complete the tasks below.

a.Record real GDP(NOT percent change)for the last four quarters for which there is available data. (See the specific Table in "Related materials' tab)

b.Record the change in the CPI for the months that correspond to the four quarters of data you found in part a above. Figure out the overall change in the CPI for each of the four quarters by compounding the changes. As an example, suppose the CPI changes for January, February and March were +4%, -2% and +1%, you would calculate the overall change this way: Start with 100 and apply all three of the changes to it: 100 (1 + 0.04) (1 - 0.02) (1 + 0.01) = 100 (1.04) (0.98) (1.01) = 102.94, so the overall change was 2.94%.

c.Who benefits from and who is harmed by the inflation you calculated in part b, and why?

d.Record the unemployment rate for the months that correspond to the four quarters of data you found in part a above. Figure out the average unemployment rate, simply by doing the arithmetic average of the three unemployment rates for the quarter (add them up and divide by 3).