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Help with a recession and monetary policy question!?

I have a question for homework in Macroeconomics that I’m having a difficult time answering. can anyone help me? Here is the question…
According to the European Central bank website, the treaty establishing the European Union “makes clear that ensuring price stability is the most important contribution that monetary policy can make to achieve a favorable economic environment and a high level of employment” If price stability is the only goal of monetary policy, explain how monetary policy would be conducted during recessions. Analyze both the case of a recession that is the result of a demand shock and the case of a recession that is the result of a supply shock.

Here, you’re looking at the relationship between money supply and the price level (depending on how your text explained it). What you’ll want to do is graph both of them and then answer the two questions in light of:
1) What would the demand or supply shock do to the price level
2) What would be the response of the central bank to restore the price level to what it was prior to the shock.

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