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All else equal, a bond with a lower credit rating has a higher exposure to what type of risk compared to a bond with a
All else equal, a bond with a lower credit rating has a higher exposure to what type of risk compared to a bond with a higher credit rating?
a. Inflation risk | ||
b. Default risk | ||
c. Lack-of-liquidity risk | ||
d. Interest-rate risk | ||
e. All of the above (i.e., a, b, c, and d are all correct) |
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