1. Graph the index of consumer sentiment, using data since 1965. Can you pick out the recessions of 1969–1970, 1973–1975, 1980, 1981–1982, 1990–1991, 2001, and 2007–2009? Construct scatter plots relating the consumer sentiment index to the growth rates of real consumption expenditures and real consumption expenditures on durables, using quarterly data since 1965. Generally speaking, does consumption grow more quickly when consumers are more optimistic? Compare the growth rates of real consumption and of real consumption expenditures on durables during recessions.