Question 3 Go to the Federal Reserve Economic Database www.research.stlouisfed.org/fred2/and print out graphs for the following macroeconomic time series:? Real GDP? The real GDP annual growth rate? Nominal GDP? Annual CPI inflation rate? The unemployment rateFor each variable print out two graphs: one starting in 1950, the other starting in 2005. Both graphs should end with the most recent data available. Then use the graphs to help you provide answers to the following questions:a) What is the definition of each macroeconomic variable? There are often multiple versions of each variable so please provide enough detail that someone could find the exact data and replicate the graph.b) For each variable, discuss how the variable moves over time after 1950.c) How do you expect the variable to move between 2017 and 2019? Why?Question 4 Go to the Bureau of Labor Statistics (BLS) website and find the most recent data on the labor force, civilian population, number of unemployed people, and number of employed people for the period 2006 through 2016. Print these data tables, including the annual average for each series. What is the annual percentage change in the labor force, civilian population, number of unemployed people, and number of employed people for 2006 through 2016? What was the 2016 average participation rate? What was the 2016 average national unemployment rate
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