Help with Question 3, 4, 5

Question 3: In response to disruptive COVID-19 economic and financial impact, in March 2020, the Governor of the RBA, Dr Philip Lowe, decided to cut official cash rate twice from 0.75% to historical low of 0.25%, with inflation within the target rate at 2.2%, unemployment at 6.2 % , GDP growth1.4% and slow growth in housing loans. Explain why the RBA dropped the official cash rate to 0.25%. Justify your answer with reasons and evidence. Note: Information is available in the monthly minutes of RBA. https://www.rba.gov.au/monetary-policy/rba-board-minutes/2020/ Question 4: Draw graph and explain the circumstances in which the RBA Board might adopt a contractionary monetary policy (increase1% to 1.5 %) to keep inflation from rising, or an expansionary monetary policy (decrease 1 % to 0.25%) to stimulate economic recovery from the negative impact of global pandemic on the economy. Question 5: What are the determinants of long-run economic growth? Is the expansionary monetary policy response package by RBA, during COVID-19 pandemic sustainable to meet monetary policy goals, macro-economic objectives and long-run economic growth? Or complementary fiscal policy is also required for economic recovery Yes/No, justify your answer with reasons- use several references. Discuss the effect of low interest rate supply of credit, on household consumption, business investment, employment, exports, inflation and housing market recovery. Note: Use GDP, inflation, unemployment, fiscal deficit, and housing market data, which can be obtained from the Australian Bureau of Statistics and RBA websites for the last 2 year to see the trends, when answering this