I- Multiple choice and true/false questions. Explain your answers briey. Label each of the following statements as True, False, or Uncertain. a. Expansionary scal policy failed to end the Great Depression in the 19305 not because it does not work, but because it was not tried. If the scal policy multiplier is less than I, then scal policy cannot help to end a recession. During the Great Depression, the Federal Reserve Bank of Atlanta aggressively responded to a bank run by injecting liquidity into the banking sector. This policy was ineffective. Pick the best answer to each of questions below. 1. In the long run, a government must: as??? Pay off its debt. Balance its budget. Keep the ratio of its debt to the economy's GDP from getting too large. All of the above. None of the above. 2. All of the following were created in the 19305 except: PP? The Federal Deposit Insurance Corporation (FDIC). The Federal Reserve. The National Recovery Administration (NRA), created by the National Industrial Recovery Act (NIRA). Social Security. 3. When economists speak of hysteresis, they refer to the fact that: 99?? Once a recession starts, it is likely to last for a while. High unemployment tends to be followed by low unemployment. Prolonged high unemployment can cause the natural rate of unemployment to rise. Prolonged high unemployment will eventually reduce ination