Briefly explain whether each of the following statements is true or false. Give reasons 1. An increase in government exp

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Briefly explain whether each of the following statements is true
or false.
Give reasons
1. An increase in government expenditure financed by borrowing
(running a larger budget deficit) necessarily leads GDP to rise by
more than the increase in government expenditure according to the
IS-LM model.
2. The Ricardian equivalence proposition implies that a
deficit-financed tax cut will
have no effect on national saving.
3. In the Solow model, it is possible that a higher saving rate can
reduce consumption in both the short run and the long run.
4. Higher transaction costs increase the demand for money according
to the Baumol Tobin model.
5. If the demand for money is perfectly interest elastic then
expansionary monetary policy will be effective in raising GDP
according to the IS-LM model.