me with this I have due in 5 hours It is true/false questions 1. When the Great Depression started and many governments sought to balance their budgets most economists, led by John Maynard Keynes, were arguing that this was the wrong thing to do. 2. Keynesian theory about dealing with the economy is broadly referred to as demand management. 3. Keynesian thinking was cast into doubt in the 1970s when managed exchange rates broke down and many countries experienced soaring inflation and stagnation. 4. Milton Friedman's most celebrated work was "The Road to Serfdom." 5. Friedman's views can be summed up in having noted that inflation is often a monetary phenomenon 6. The collapse of the Japanese economy in the 1990s is referred to as "the lost decade." 7. In the 1990s, the Japanese government follow general monetarist policies of boosting the money supply and keeping interest rates low, which successfully led to more borrowing, spending and a growing economy. 8. Keynesian views on managing aggregate demand broke down during the economic instability that occurred in the 1950s. 9. The founder of the monetarist school of thought was Milton Friedman. 10. While there are differences between the two schools of thought, both Keynesians and monetarists believe that we should first use fiscal policies to stabilize an economy. 11. According to Friedman, Keynes argued that the most insidious way to destroy a nation is to destroy its currency. 12. Friedman contends that Keynes was a bad influence on the intellectual climate by arguing for government to solve all our problems. 13. According the posting on HansEconomics, there is a perfectly logical explanation of business cycles and that is Keynesian economics. 14. If we follow Laura Tyson's advice, we should be saving less of our income at least in the short run. 15. It was Robert Higgs who proposed that the length of the Great Depression was due to "regime uncertainty