Macroeconomics 201

Econ 201 Data Analysis 1 Steps to Search for and Transform the Data. 1. Access httpszfredstlouisfederg/ and search for \"Advance Retail Sales: Food Services and Drinking Places (RSFSDP).\" 2. Select the series labeled \"Millions of Dollars, Monthly, Seasonally Adjusted.\" 3. Click on EDIT GRAPH and select ADD LINE. 4. Search for \"Advance Retail Sales: Food and Beverage Stores, Millions of Dollars, Monthly, Seasonally Adjusted (RSDBS)\" and click on \"Add.\" 5. Click on EDIT GRAPH and select EDIT LINE 1. 6. Customize data by searching for \"Consumer Price Index for All Urban Consumers: All Items in US. City Average, Index 1982-1984=100, Monthly, Seasonally Adjusted (CPIAUCSL)\" and click on \"Add.\" 7. Customize the data by typing the formula \"(afb)*100\" and click on \"Apply.\" 8. Click on EDIT GRAPH and select EDIT LINE 2. 9. Customize data by searching for \"Consumer Price Index for All Urban Consumers: All Items in US. City Average, Index 1982-1984=100, Monthly, Seasonally Adjusted (CPIAUCSL)\" and click on \"Add." 10. Customize the data by typing the formula \"(a/b]*100\" and click on \"Apply.\" Questions- Answer the following questions: 1. The retail sales figures have been adjusted for changes in the cost of living by dividing them by the consumer price index and multiplying them by 100. Explain why it is necessary to transform the data in this way to be able to compare dollar figures over time. 2. Between January 1992 and April 2020, when did retail sales at bars and restaurants first equal retail sales at food and beverage stores? Explain your answer. 3. In March 2020, retail sales at bars and restaurants fell and retail sales at food and beverage stores rose. Explain what happened at the time. 4. In April 2020, retail sales fell at both bars and restaurants and food and beverage stores. Explain what happened at the time. 5. In January 2022, the lines crossed again. What happened at the time