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1. One big question is " how is economic growth distributed?\" This first questions looks at labor's share of income, that is how much do workers get out of the total pie? a. Using FRED. acquire the following data series: Gross Domestic Product (FRED Code "GDP") and Compensation of employees (FRED Code "A033RC1A027NBEA") (Note, I will call this Labor Compensation). For convenience. work only with annual frequencies. Construct a similar table as that displayed below, by computing the growth rates by decade of GDP and Labor Compensation. 1970-1980 19801990 19902000 2000-2018 19702018 Growth rate of GDP Growth rate of labor compensation b. Construct a graph that plots the ratio of Labor Compensation relative to GDP for the entire time period. c. Be prepared to discuss several features of this data in class. a Do wages grow at a similar rate as GDP? 0 There are broad concerns about changes in the nature of income inequality. Do yourfindings speak to this