Given the above, standard textbook economics would seem to suggest that the economy should have recovered quickly from the recession, with a huge increase in aggregate income (GDP), and that associated with that huge increase in aggregate income should have come a huge surge in employment, hours, output, prices and wages. (1) Briefly, explain the applicable multiplier and stimulus theory vis-à-vis processes and expected outcomes and magnitudes. And the follow-up: (2) What happened? That is, why was the theory so wrong? Or was the theory not wrong? In general, reconcile the theory and the observed outcome. Be analytical.