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.