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Question (5 mark) A. What is meant by time inconsistency of discretionary policies ? What is the problem with it? Give an example of time

Question (5 mark)

A. What is meant by "time inconsistency of discretionary policies" ? What is the problem with it? Give an example of time inconsistency.(3 marks)

B.What is moral hazard? Howdo financial institutions deal with moral hazard? (2marks)

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