all of question 3 please

Dataset: Average annual hours actually worked per We want to see how well the model performs against data. To do this, we will replicate Prescott's exercise and update the numbers using more recent data 1 (a) First, download the file consgdp.xls from the project folder on Blackboard. Find the consumption to output (GDP) ratio, y1ct, for each period between 20002013. Report the average consumption to output ratio for each country for the period 20002013. source: Prescott (2004) (b) Use the following labor income tax rates for each country. Calculate the model predicted weekly hours worked in each country using the equation derived above and the average yc calculated in your answer above. In calculating your answer, assume =0.33,=1.54 and h=100. (c) Now download the file hours.xls from the project folder on Blackboard. Report the average weekly hours for each country over the period 2000-2013. (d) How does your answer above compare to the model predicted average hours