4. (All else equal,) The price of a risky bond is if the expected payout of the bond is more highly correlated with income (you can think of this as referring to national income). a. Lower b. Higher 5. (All else equal,) The return of a risky bond is if the expected payout of the bond is more highly correlated with income (you can think of this as referring to national income). a. Lower b. Higher