Please show work clearly and neat and circle answer. Answer 20-24

20. Which occurs more often? 5 A. Upwardly Sloping Yield Curves B. Inverted Yield Curves 21. What is an Inverted Yield Curve? erm US Treasuries (e.g., 1-year Treasury bills) have higher yields-to-maturity (YTMs) than Treasury notes) Ce.g., 10-year US B. Long-Term US Treasuries have higher yields-to-maturity (YTMs) than Short-Term US Treasuries C. Short-Term US Treasuries have higher coupon rates than Long-Term US Treasuries D. Long-Term US Treasuries have higher coupon rates than Short -Term US Treasuries E. When US Treasuries have negative real rates of return. 22. Which of the following typically occurs when the US Treasury Yield Curve inverts? A. Inflation is high. B. The Federal Reserve Bank is tightening credit. C. Recessions soon follow. D. All of the above. E. None of the above. 23. What of the following best describes interest rate risk? A. The risk that bond prices will decline as interest rates rise. B. The risk that bond prices will decline as interest rates decline. C. The risk that the issuer will not be able to make timely payments of interest and/or principal. D. The risk that bonds will be worth less as inflation rises. E. The risk that the coupon may decline if interest rates decline. 24. What of the following best describes credit risk? A. The risk that bond prices will decline as interest rates rise. B. The risk that bond prices will decline as interest rates decline. C. The risk that the issuer will not be able to make timely payments of interest and/or principal. D. The risk that bonds will be worth less as inflation rises. EThe risk that the coupon may decline if interest rates decline