Table B-49. Productivity and related data, business and nonfarm business sectors, 1960-2009 [Index numbers, 1992=100; quarterly data seasonally...

Based on the Excel table, verify the association between real wages and average labor productivity in theU.S. For the data questions that follow(a) Based on the data described above, construct an index of the real wage given by the compensationper hour in the nonfarm business sector (column I) divided by the implicit price deflator of that sector(column O), times 100.(b) In Excel, plot (i) output per hour of all persons in the nonfarm business sector (column C) and (ii) thereal wage just obtained for the years 1960-2008. The first variable measures average labor productivity,