3. The Consumer Sentiment Index (CSI) is published every month based on a survey of thousands of representative U.S. households. It is used by many economists to track the state of the economy. A press release by the Board on March 31, 2023, stated: "The CSI increased slightly in March, following an increase in February. The Index now stands at 104.2, up from 103.4 in February." (a) As an economist, is this news encouraging for economic growth?(b) Explain your answer to part a with the help of the AD-AS model. Draw a typical diagram showing two equilibrium points (E1) and (E2). Label the vertical axis "Price" and the horizontal axis "Real GDP." Assume that all other major macroeconomic factors remain unchanged. (c) How might the government respond to this news if the economy is (i) below potential output? (ii) is above potential output?