Multi-Power is another 2-speeds added to your tranny. It's controlled by a lever on the dash, next to the steering column. When you DON'T have Multi-Power, you'll see a piece of trim, OR, a 1/4" wide X approx. 4" long slot in the dash where the lever would be.
MP is hydraulic actuated, but NOT a hydraulic/fluid tranny. High gear essentially over-rides (over-runs???) low range. Low will freewheel while high drives the tractor. Down side? While in low range, the tractor can freewheel down a hill.... You DO NOT use multipower for breaking purposes. It's INTENDED purpose was a shift on the fly hi/low to use while doing heavy pulling chores such as plowing. Back in the day, plowing was one of the, if not THE primary consideration when designing a farm tractor. Not so much these days.
MultiPower was as good as all the rest of the hi/lows of it's day. (My, times change)