On the FRED home page, just below the search dialog box, you'll see "Browse data by Tag, Release, Source, Release Calendar of Get Help."Click on "Release."Then on the top right-hand corner click on "2," which takes you to page 2.Scroll down to "Gross Domestic Product," and click on it.Then click on "Section 1, Domestic Product and Income," found at the top of the page just below the title "Gross Domestic Product."Finally, click on "Table 1.1.5.Gross Domestic Product."Below the title "Section 1 - Domestic Product and Income:Table 1.1.5. Gross Domestic Product," you'll find both an "Annual" and "Quarterly" option.Click on "Quarterly."

Let's review the latest data are for the fourth quarter of 2020 (Q4 2020).(You can, of course, choose any available quarter from 1947 on by simply clicking on the calendar icon, found at the top right-hand corner of the page.It's a remarkably easy method to access these data.Remember, these are annualized quarterly data as we explained in class.

Using the components of Q4 2020 GDP shown in the Table, as reported by the Bureau of Economic Analysis (BEA), calculate below the values for each of the following,rounding your answer, not the values given in the Table, to one decimal place. Show your work.(Again, make sure youdo notround the values in the Table.Enter all digits, removing commas and maintaining decimal points.)

Refer to the first paragraph of #1 above.Return to the list of Tables under Section 1 - Domestic Product and Income.And click on "Table 1.1.6.Real Gross Domestic Product, Chained Dollars."Then, as before, click on "Quarterly."

Using Table 1.1.6 and, when appropriate, Table 1.1.5, calculate the values for each of the following.Show your work.Again, for your calculations, enter all available digits shown in the Table.Do not round the numbers in the Table!Round your final computed answer, however, as indicated.

The Q4 2019 to Q4 2020 inflation rate,expressed as a percentageandrounded toone decimal place (e.g., 2.3), as measured by the GDP implicit price deflator.