Indicate whether each statement is true or false (1 point) and briefly explain your answer(3 points). Your explanation could include changing a false statement to make it true,referring to the definition of a term, or using data from FRED.1. Consumption of nondurable goods is more affected by the stage of the business cyclethan consumption of durable goods.2. An output gap of zero means that actual employment is above potential employment.3. Okuns Law refers to the positive correlation between changes in the output gap andchanges in the unemployment rate.4. If the output gap is -3%, then Okuns Law says that the unemployment rate is 1.5percentage points below its natural rate.5. If the unemployment rate is equal to its natural rate, then structural unemployment iszero.