1. Go to the FRED database: download All Employees, Total Nonfarm (need to multiply by 1000), and GDP (multiply by 1 billion). Calculate labor productivity per employee. Plot the data and explain what you are observing. Is labor productivity the same across time? During what time periods did labor productivity increase or decrease? (Period: 1960s to 2021).

2. Go to the FRED database: download Personal Consumption Expenditures and GDP. Since both of them are in billions of dollars, you do not need to multiply by 1 billion. Calculate consumption as a ratio of GDP (consumption/GDP). Plot the data and explain what you are observing. Is consumption to GDP responding to business cycles? (Period: 1960s to 2021).

3. Go to the FRED database: download Gross Private Domestic Investment and GDP. Since both of them are in billions of dollars, you do not need to multiply by 1 billion. Calculate investment as a ratio of GDP (Gross Private Domestic Investment/GDP). Plot the data and explain what you are observing. Is Gross Private Domestic Investment to GDP responding to business cycles? Is consumption or investment to GDP responding more to business cycles? (no more than 200 words) (Period: 1960s to 2021).

Please upload the excel work with an explanation here.