Choose 1 question from the below. I will post the references from my lecturers o

Choose 1 question from the below. I will post the references from my lecturers once you take up this work.2500 wordsa) Define monetary policy and discuss the operation of monetary policy in the United States post-GFC.Orb) Given the rise of China relative to the United States post-GFC to what extent do you think that the yuan should replace the US dollar as the dominant currency in the global financial system?