(1) Interest rates are at historic lows in many countriesin some cases, close to zero. How is expansionary monetary policy, or more specifically an open market purchase, supposed to work? How do near-zero interest rates limit the ability of expansionary monetary policy to work?

(2) how effective has the Australian Government's policy been as a response to the economic downturn due to the Covid-19 situation? What evidence can be suggested to support position?