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Decide whether the following statemets are true or false and explain why: a. Effective duration is a measure of yield duration b. modified duration is

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Decide whether the following statemets are true or false and explain why: a. Effective duration is a measure of yield duration b. modified duration is a measure of curve duration c. modified duration can never be larger than Macaulay duration d. duration can be used to estimate bond price changes for large changes in yield e. Macaulay duration for a zero-coupon bond requires a complex calculation

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