1. US and Trade As an aid to Senator Kirsten Gillibrand (D, NY) in the US Congress you are charged with analyzing US trade deficits and their potential connection with the budget deficit of the US government. To aid your analysis. please use FRED to find the appropriate data. Write a short report summarizing your findings. Your report should contain the following pieces of information: a. In a professional looking table, report the following statistics (all in nominal values and as a percent of Nominal GDP in that year); Exports Imporls (Exports - Imports) US Budget Deficit IQTO 2019 2019 minus 19?0 where exports are "exports of goods and services" (EKPGS), imports are "imports of goods and services" (IMPGS), and the US Budget Deficit is "Federal Surplus or Deficit" (FYFSD), in the last line report the difference between 19?0 and 2019. b. Provide a plot of US Exports and US Imports as a percentage of Nominal GDP on the same plot. In your report, provide a brief discussion of this plot. Describe how US foreign trade has changed over the past 50 years. Are we more open or less open? Please speculate as to why. c. Provide a professional looking plot of US (Exports - Imports) and Budget Deficit as a percentage of Nominal GDP on the same plot. In your report, be sure to report the correlation between the two series d. Using the material we have covered, please discuss how these two series (i) should relate in theory and (ii) how they appear to relate. Specifically, focus on instances when Our theory works and when it does not. In the instances when it does not, what might be going on? For example. why was our trade deficit expanding in the 19905 when the budget deficit was shrinking