July 8th, 2020 
Answer only one question from each section A and B.
Section A: Monetary Policy (Chapter 15)
List and brief explain the relationship between money demand and (1) price level, (2) income level, and (3) interest rates.
What is a mortgage?
Section B. Fiscal Policy (Chapter 16)
Which can be change more quickly: monetary policy or fiscal policy? Briefly explain
.
Explain the difference between crowding out in the short run and in the long run.
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