Question: Using the FRED database, download a graph of the share of income paid to labor for the nonfarm business sector of the U.S. economy, back

Using the FRED database, download a graph of the share of income paid to labor for the nonfarm business sector of the U.S. economy, back to 1947.
(a) Display this graph.
(b) The graph most likely shows an index (e.g., normalized so the value in some year is 100) rather than the share itself. Assuming the labor share in 1965 to 1980 averaged 2/3, approximately what value is the labor share for your most recent data point?

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a b For the first quarter of 2016 the index was 100878 The ... View full answer

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