Explain if the following statements must be considered TRUE or FALSE:

a) The Central Bank is the competent authority to set restrictions on bank reserves.

b) The distinction between different monetary macro-magnitudes (M1, M2 and M3) stems from the degree of assets' liquidity that one recognizes as money.

c) The costs of unexpected inflation are less harmful than the ones of the expected inflation.

d) The existence of a low and stable inflation does not affect how well money fulfills its three functions in the economy.