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4. [ 3 pts ]. Answer the following in a concise manner. (a) What is the difference between a loan, a cryptocurrency and a bond?

4. [

3 pts

]. Answer the following in a concise manner.

(a) What is the difference between a loan, a cryptocurrency and a bond?

(b) What is the difference between the money market and the capital market?

(c) How can the stock option provision solve the principal-agent problem and reduce

agency costs?

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