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1-Modified duration measures the sensitivity of bond prices to changes in __________. C. current yield B. the level of investor wealth D. time to maturity

1-Modified duration measures the sensitivity of bond prices to changes in __________.

C. current yield
B. the level of investor wealth
D. time to maturity
A. market interest rates

2-Macaulay duration is longest for __________.

A. high-coupon 30-year bonds
D. none of the above
C. zero-coupon 30-year bonds
B. low-coupon 30-year bonds

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