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    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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