Dynamic Consumption Function Think about the following model. Const Const DIt t 1 2 1 3 where Const is per-capita personal consumption expenditure in year t, DIt is percapita disposable income, and t is the error term. The attached file, Data 2-1, contains annual data on Const and DIt in the United States for the 1970-2015 period. To correct for inflation, both variables are expressed in real terms.