I have some problems with

I have some problems with

I have some problems with interpretation. Hope someone can help me :)where Y is output, N is population which grows at a constant rate N, K is capital, B is bonds, P is pices, M is money holdings, C is consumption, i is the nominal interest rate and is a aggregate real value of any lump sum transfer (exogenous).Interpret how bonds are introduced are introduced into this market, when does the consumer buy them, when do they pay, does the consumer know the interest rate when he purchases the bonds?2. Interpretation of first order conditions:a) The Euler equation:b) Relationship between the marginal utility of consumption and marginal utility of moneyc) Relationship between the nominal interest rate and the marginal product of capitalThese first order conditions are found by maximizing the sum of discounted utility U(c,m) where Beta is the discount factor, r is the real interest rate and pi is inflation.Anyone can help me?

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