Monetary policy is the system of actions taken by the Fed to influence the money supply

Time value of money refers to the idea that a specific amount of money:

A. Can be converted into other currencies in the foreign exchange market B. Is needed to purchase goods and services C. Is more valuable the sooner it is received D. Can buy less goods and services if inflation occurs over time

Designing efficient contracts are costly when

A. there is an agency relationship. B. there is complete information. C. there is asymmetric information. D. there is perquisite involved.