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1. Assume that the city of Chicago issues both general obligation and revenue municipal bonds. Do the bonds have equal risk? Why or why not?

1. Assume that the city of Chicago issues both general obligation and revenue municipal bonds. Do the bonds have equal risk? Why or why not?

2. Two securities of equal risk are available for investmenta money market security and a capital market security. Assuming a normal yield curve, which security should be purchased to achieve the highest yield? Why?

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