kinda confused on this question right here. A homework question

Does monetary and/or fiscal policy impact exchange rates and, if so, how does that affect levels or growth rates of aggregate demand?

s monetary or fiscal policy more (or less) effective in an open economy vs. closed economy?

In your opinion, how effective is - and what are "economic risks" or "potential trade-offs" of - fiscal and monetary policy in "controlling" or "moderating" the business cycle (in general)? As part of your analysis, please consider and address whether (or not) you are considering the effects of monetary and fiscal policies in the 'long run" vs. 'short run" and in a "open" economy vs. a "closed" economy