What monetary policies is the government of your country undertaking?

PurposeThe purpose of this week’s recitation is to practice using the AS/AD model to understand the impacts of monetary policy responses to an economic crisis.The Current CrisisThe current crisis exists on a global scale. As countries issued stay-at-home orders, consumption of many goods fell and firms reduced their investment spending. Additionally, international trade slowed, particularly trade in inputs used for production of final goods. As a result, countries are experiencing a global recession.To answer the following questions, choose a country and look up the following information:Monetary policy response (can be found at https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19)Inflation rate (can be found at https://tradingeconomics.com/country-list/inflation-rate)Interest rate (can be found at https://tradingeconomics.com/country-list/interest-rate) Questions1.Which country have you chosen? What is the current inflation rate? Interest rate?2.What monetary policies is the government of your country undertaking?3.Explain what the central bank is trying to achieve with its monetary policies.4.Use the AS/AD model to explain the various pressures on the inflation rate.5.Use the market for money supply and money demand to explain the various pressures on the interest rate.6.What limits the size of the money multiplier?7.What is your opinion on your country’s monetary policy?