For this exercise you will be using a variation of CONSUMP, which contains time series data including information on growth in real per capita consumption, growth in real per capita disposable income, real interest rates, and other macroeconomic variables. The following section gives detailed information about the variables within the data set: year $=$ the year in the period $19591995$; i$3=$ the $3$month T$-$bill rate; inf $=$ the inflation rate; Consumer Price Index $($CPI$)$; rdisp $=$ disposable income, $1992$ dollars, billions; rnondc $=$ nondurable consumer goods, $1992$ dollars, billions; rserv $=$ services, $1992$ dollars, in billions; pop $=$ population, in $1000$s; y $=$ per capita real disposable income; rcons $=$ rnondc$+$rserv; c $=$ per capita real consumption; r$3=$ i$3$inf; the real ex post interest; lc $=$ log$($c$)$; ly $=$ log$($y$)$; gc $=$ lc$$lc$[$t$1]$; gy $=$ ly$$ly$[$t$1]$; gc$\_1=$ gc$[$t$1]$; gy$\_1=$ gy$[$t$1]$; r$3\_1=$ r$3[$t$1]$; lc$\_$ly $=$ lc$$ly; lc$\_$ly$\_1=$ lc$\_1$ly$\_1$; gc$\_2=$ gc$[$t$2]$; gy$\_2=$ gy$[$t$2]$; r$3\_2=$ r$3[$t$2]$; lc$\_$ly$\_2=$ lc$\_2$ly$\_2.$ Open any of the following data files to reference the data from Consump$\_$V$1.$ Use the chosen data file to answer each of the following questions. $***$EMPTY PARAGRAPH$***$ Open R File $***$EMPTY PARAGRAPH$***$ Open Excel File $***$EMPTY PARAGRAPH$***$ Open Stata File $($i$)$ Estimate a simple regression model relating growth in real per capita consumption $($of nondurables and services$)$ to the growth in real per capita disposable income. Use the change in natural logarithms in both cases. The estimated equation is: gct$=+$ gyt$.$ The coefficient on gyt indicates that a $1-$percentage$-$point decrease in the income growth the consumption growth on average by approximately percentage points. True or False: The coefficient on gyt is statistically significant against the two$-$sided alternative at the $5\%$ significance level. True False $($ii$)$ Add a lag of the growth in real per capita disposable income to the equation from part $($i$).$ The estimated equation is: gct$=+$ gyt $+$ gyt$-1.$ There is strong evidence of adjustment lags in consumption growth at the $5\%$ significance level. True False $($iii$)$ Add the real interest rate to the equation from part $($i$).$ The estimated equation is: gct$=+$ gyt $+$ r$3$t$.$ The real interest rate does not affect consumption growth at the $5\%$ significance level. True False