11. From 1 July 2013 (bottom line) to 5 July 2013 (top line) investors became ____ optimistic about Portugals economic outlook relative to other investments.

1. more
2. neither more nor less
3. less

13. Local government bonds are called munis (short for municipal). The Wall Street Journal on 2 November 2014 ran an article on munis stating that they have had a greater return than other assets and more are being purchased. One should expect local governments to ______ in size with greater muni purchases.

1. increase
2. stay the same
3. decrease

8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 6m Portugal Government Bond Yield Curve -7/5/2013 -7/1/2013 5y 2y 3y 7y By SoberLook.com 10y 30y Roaring Back Municipal bonds have outgained other assets in 2014 as investors have stepped up purchases. Beneficiaries include a state agency that funds casino development in Atlantic City, N.J. (pictured). Municipal-bond flows, monthly $10 billion..... $1.25 billion through Oct 29 5. 0 -5 -10 -15 popoy. 2013 2014 total returns Municipal bonds 8.32% Dow Jones Industrial Average 6.86% Highly rated corporate debt 6.68% U.S. Treasury debt 4.07% *Reflects price changes and dividend or interest payments through Oct. 31 Sources: Lipper (flows); Barclays (returns); WSJ Market Data Group (DJIA return); Getty Images (photo) 14 ATHL C CONVERSE ail ATLANTIC P The Wall Street Journal