In Keynes's liquidity preference framework, individuals are assumed to hold their wealth in two forms ().
A. real assets and financial assets
B. stocks and bonds
C. money and bonds
D. money and gold
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A lower level of income causes the demand for money to ________ and the interest rate to ________.
A. decrease; decrease
B. decrease; increase
C. increase; decrease
D. increase; increase
The risk structure of interest rates is ().
A. the structure of how interest rates move over time
B. the relationship among interest rates of different bonds with the same maturity
C. the relationship among the terms to maturity of different bonds
D. the relationship among interest rates on bonds with different maturities
Bonds with relatively low risk of default are called ().
A. zero-coupon bonds
B. junk bonds
C. investment-grade bonds
D. none of the above
Moody's and Standard and Poor's are agencies that ().
A. help investors collect when corporations default on their bonds
B. advise municipal bond issuers on the tax exempt status of their bonds
C. produce information about the probability of default on corporate bonds
D. maintain liquid markets for corporate bonds
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