"Create Network" with WiFi G on a WiFi N Mac?

My MacBook Air has WiFi N, which explains why my iPhone (Jaadu, Air Sharing etc.) can't connect to it when I "Create Network."

But the Air can obviously connect TO a WiFi G network. So can it also CREATE a WiFi G network? I can't seem to figure out how.

This would also be useful for sharing files at meetings, with people who only have WiFi G.

TIA

I would think it is backwards compatible unless it is N only as far as being the WiFi router.

Good question. I know my Time Capsule has such options (and I chose NOT to have G compatibility there, for the sake of extra speed/wideband). But I don't see those options on the Mac's "Create Network." So it is G-friendly or not?