1. Which of the following statements is correct? A. A dollar tomorrow is worth more than a dollar today. B. Nominal dollars refer to the amount of purchasing power. C. Money has time value due to the concept of opportunity cost. D. The term \"constant dollars\" refer to the term \"real dollars.\" E. Both C and D of the above are correct. Which of the following statements is correct? A. The higher the rate of time preference, the greater the preference for cur- rent relative to future consumption. B. Because people have a time preference: money and the ability to consume now have more value than money in the future. C. If the real interest rate is higher than the rate of time preference, then people will tend to shift their consumption a bit toward the future. D. In the long-run equilibrium, the real rate of interest equals the rate of time preference. E. All of the above. Economists take the study of money seriously because evidence suggests that A. High rates of money growth lead to rising long-term bond interest rates. B. High rates of monetary growth cause high rates of ination. C. The money supply and the price level move closely together. D. Recessions have been preceded [precede = come before in time) by a decline in the growth rate of money supply. E. All of the above