Question: Plz refer to the attachment. 5) Explain the time-inconsistency problem. What is the likely outcome of discretionary policy? What are the solutions to the time-inconsistency

Plz refer to the attachment. 5) Explain the time-inconsistency problem. What

Plz refer to the attachment.

5) Explain the time-inconsistency problem. What is the likely outcome of discretionary policy? What are the solutions to the time-inconsistency problem? (10 points)

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Do not take criticism personally, even if it is meant to be personal.

2. To understand that as a general rule it takes about 3 minutes before the other part(s) have made up a 90% impression of you.

3. To understand that the first impression means a lot, and it takes a lot of energy to change this first impression.