Answer the following questions using any tools at your disposal. More credit will be given for answers that use the graphical tools presented in class, along with a \"story.\" A. The federal government ran a budget surplus in the late 1990 and in the year 2000, but has since returned to running a budget deficit. 1. Explain why reducing the budget deficit can cause shortterm pain in the form of lower employment, higher unemployment, and a recession. 2. Explain why expansionary monetary policy would help decrease the likelihood of a recession if it were adopted at the same time the budget deficit was being reduced. 3. Present an analysis that identifies any long term gains which could result from a reduction in the budget deficit. (Analyze the composition of output.)