True or False questions. Provide economic intuition or draw relevant diagrams to justify your answers. No marks are awarded if you merely state True or False as your answer. Restrict your answer to less than 50 words per question.

1. Financial innovations in the form of a cryptocurrency reduces the money multiplier and money supply.

2. Services offered in the sharing (or sometimes referred to as the Gig) economy, such as Uber eats, Uber rides, and Air BnB, should not be counted in a country's GDP because no actual physical goods are produced.

3. A contractionary monetary policy in the US to combat rising inflation can result in an appreciation of the Australian dollar against the USD.