6. The following graph shows the nominal policy rate and CPI inflation rate in India. 16 --- Policy 14 CPI Inflation 12 10 RATE (pecent/year) N 1990 1991 1992 1993 1994 1995 Source: FRED / OECD / IMF TIME (year) Assume the target inflation rate between June of 1992 and June of 1993 was equal to the constant 5.7%/ year inflation rate observed during the first half of 1993. (a) (4 pts) Characterize the monetary policy of the Reserve Bank of India (RBI) - the central bank of India - as expansionary, contractionary, or neither with respect to the optimal rate rule on the dates indicated below. Briefly explain your characterization. . October 1, 1992. . March 1, 1993. (b) (3 pts) What was the real equilibrium rate of interest on February 1, 1993