Could you please answer all of these question please, with clear explaining please, thank you so much. Appreciate that . Thumbs up :)

b) Monetary Policy (MP) is one of the key pillars of macroeconomic policy. Australia is going through its first recession in decades due to the Covid-19 pandemic. Briefly explain how the monetary authority could use the MP to affect the economy? (Include in your answer the definition of MP, inflation target of the MP, the expected effect of any suggested change in cash rate on consumption, investment and the likely change to net export). [5 marks]