hi i need help with these questions please

1. The Reserve Bank of Australia (RBA) is required by law to pursue:

(i) Full employment of the labour force

(ii) Low and stable inflation

(iii) A healthy rate of economic growth and economic welfare for society.

For the past three decades, (with the exception during times of economic shocks), the RBA has focussed on achieving low and stable inflation, known as inflation targeting.

(a) Explain what is meant by inflation targeting and provide Australia's target range of inflation.

(b) Explain why the RBA believes that targeting inflation will help achieve the other two goals.

2. (a) What is monetary policy?

(b) Explain how monetary policy can affect the C, I and NX components of aggregate demand.

3. (a) What is the cash rate and what role does it play in monetary policy?

(b) Suppose a newspaper headline read: 'Companies invest as interest rates reach a 20-year low'. Explain the connection between this headline and the monetary policy pursued by the RBA during that time.

4. Explain the difference between expansionary policy and contractionary policy.

(a) Under what economic conditions would the RBA pursue expansionary monetary policy?

(b) Under what economic conditions would the RBA pursue contractionary monetary policy?

Include the aggregate demand, short-run aggregate supply and long-run aggregate supply model in your answers.