a) Explain what it means that money in the U.S. is fiat money.

b) Explain the relationship between bond price and interest rates.

c) Explain why the interest rate is the opportunity cost of holding money.

d) Explain why the demand curve for money is downward sloping and why the supply curve of money is vertical.

e) Explain the difference between fiscal and monetary policy (who runs it/how it works).

f) Explain the Demand and Supply Shifters for the Loanable Funds Market.