Thank you, please answer the following questions

4. Using your knowledge of the New Keynesian model covered in the course, answer the following questions: [24 Points] a) Suppose that COVID-related surge in investment and application of new technologies drive an increase in current total factor productivity. Explain what the equilibrium effects are on the economy, assuming no change in the central bank's interest rate target. Assume that the output gap is initially zero. [4 Points] b) Suppose that despite the surge in new technologies, total factor productivity is expected to fall in the future, largely due to stagnant wages and insecure jobs across the economy. Assuming nominal interest rates have reached the zero-lower bounds and the central bank does not engage in any form of unconventional monetary policy, graphically illustrate and discuss how fiscal policy could stabilize the economy. [6 Points] c) Assume that some of Australia's capital stock was destroyed by recent waves of climate-induced natural disasters. Assuming a zero-output gap before the disasters, explain how monetary policy could be used to stabilize the economy. Make sure to include an appropriate diagram in your answer. [5 Points] d) Some prominent economists are warning that current large levels of COVID-related government spending would lead to higher inflation sooner or later. what should the central bank do if the anticipated future rate of inflation goes up? Discuss with the aid of an appropriate diagram. [4 Points] e) Due to rising fiscal deficits, some economists are projecting that the natural rate of interest wouldrise. Graphically illustrate and discuss what the central bank should do if the natural rate of interest rises, explaining any potential trade-offs facing the central bank. [5 Points]