The St. Louis Federal Reserve offers a terrific repository of macroeconomic data. Go to https://fred.st10uisfed.org/series/GDPC1 and download the time series. This is real GDP for the US, at the quarterly frequency, at 2012 dollars. Open the file in Excel or your preferred program. 1. Take the natural logarithm of the time series, which is done with the command In(:r) in a given cell. Plot the In-transformed time series against the time variable. 2. Define growth in Excel, in the precise way: Plot this time series. 3. Compute the approximate growth we discussed in class and lecture, and plot this time series: 4. How do these two time series of growth compare? 5. Download the GDP deflator time series, which takes 2012 as the base year, from: https://fred.st10uisfed.org/series/GDPDEF/ Add this time series to your Excel data set that contains real GDP. Note that the St. Louis Federal Reserve used exactly this deflator to compute the real GDP time series. Note also that in the base year, the GDP deflator is 100 rather than one. Therefore, divide all values for the GDP deflator by 100, to normalize it to 1 in 2012 (baseline year). Now back out nominal GDP for each quarter, using the GDP deflator. Plot the time series of nominal GDP in the same plot as real GDP. 6. What is the conceptual difference between nominal GDP and real GDP?