Don't use chatgpt.. Download the Total Factor Productivity (TFP) dataset forthe private nonfarm business sector from the Bureau ofLabor Statistics (BLS) website for the most recent 20-year period. Additionally, download GDP data for thesame period from the Bureau of Economic Analysis (BEA). Plot the TFP growth rate over this period andcompare it with the GDP growth rate.a. Describe the trends you observe-have TFP and GDPgrowth been steady, increasing, or decreasing?b. Identify any periods of significant change anddiscuss potential factors that might have contributed tothese changes.c. In your analysis, explore the relationship betweenTFP and GDP growth. Only one figure and oneparagraph are necessary.

Detailed explanation:YearGDP Growth Rate (%)TFP Growth Rate…

Answered: Download the Total Factor Productivity…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 7PA

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