explain whether the given statement is true, false or uncertain. Start your answer by selecting one of the options - "True", "False" or "Uncertain" and then provide arguments to justify your selection

1. The world price of oil has risen recently. For Australia (which is a net exporter of oil), this development will imply that the CPI will increase by much more than the GDP deflator

2. Susan started her new job as an editorial assistant in prestigious media company in 2018. She negotiated on a wage contract where for next two years (till 2020), her salary was indexed to rise by 1% each year. In 2019, actual CPI inflation turned out to be 2%.This has negatively affected Susan's purchasing power and she was not able to afford the same standard of living as before.

3. Suppose, the negative shock of the pandemic has pushed the economy far below its productive capacity (or potential GDP). To boost the economy, the government has decided to expand government spending (G). Government should exercise caution in implementing this policy as increase in government spending may 'crowd out' private spending.

4. Suppose government provides tax rebate to small business on their business-related expenditure. Assuming no change in government budgetary position, this policy is likely to have a positive effect on household (or private) saving in the economy (Hint: think about the effect of this policy in Loanable Funds Market)

5. The saving rate (gross domestic saving as a % of GDP) in Australia, a small open economy, was 15% in 2011 while the investment rate (domestic investment as a % of GDP) was 25%. As a result, there was net outflow of capital from Australia in 2011.