answer the question in the document data exercise 1

Steps:

  • Download and plot (e.g. using Excel) data from 1950 to 2010 on US aggregate
    • Output (Q, measured in $): http://www.bea.gov/national/index.htm
    • Capital stock (K, measured in $): https://research.stlouisfed.org/fred2/series/RKNANPUSA666NRUG
    • Labor input (L, in hours worked): https://fred.stlouisfed.org/series/B4701C0A222NBEA
  • Using these data series, calculate and plot two additional data series for the interval 1950-2010
    • Output per worker-hour (Q/L)
    • The annual change in output (e.g. subtract GDP in 1950 from GDP in 1951 … and keep doing that)
    • please buddy see the attachment document

 

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