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According to the unbiased expectations theory, which of the following statement(s) is/are correct? I. Markets are segmented and buyers stay in their own segment. II.

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According to the unbiased expectations theory, which of the following statement(s) is/are correct? I. Markets are segmented and buyers stay in their own segment. II. The term structure will most often be upward sloping. III. The long-term spot rate is roughly an average of the current and expected future short-term interest rates correct incorrect Il only Ill only 18 Il only None of the above answers

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