Data exercise 1 Answer the question on data.
I’m studying for my Political Science class and don’t understand how to answer this. Can you help me study?
Follow the steps below:
- 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 follow these steps for the assignment as the professor says in class