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A normal yield curve implies that: a. Long-term interest rates are higher than short-term interest rates. b. Intermediate term interest rates are higher than either

A normal yield curve implies that:

a.

Long-term interest rates are higher than short-term interest rates.

b.

Intermediate term interest rates are higher than either short- or long-term interest rates.

c.

Long-term interest rates are lower than short-term interest rates.

d.

Long-term interest rates are the same as short-term interest rates.

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