1. Figure 23.2 panel (b) in Chapter 23.2 (expressed in % of GDP). Try finding the appropriate series on FRED, but if you can't find it, please use the hints below.
2. How have the current account and trade balance evolved since 2016 (the last data point in Figure 23.2)?
3. Chapter 23.4 presents several versions of the "National Saving and Investment" identity. The goal here is to illustrate how its key components have evolved over time. Let's take the version that expresses the trade surplus as a function of domestic saving minus investment:
   • Trade surplus = Private domestic saving+Public domestic saving - Investment
   • (X-M) = S + (T-G) - I
4. What is the counterpart to the recent (COVID driven) increase in the federal budget deficit? Can you make sense of that?