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With respect to the liquidity preference theory, which of the following are false in explaining the decrease in the yield on long-term corporate bonds versus

With respect to the liquidity preference theory, which of the following are false in explaining the decrease in the yield on long-term corporate bonds versus short-term bonds? [I] Increase in future inflation expectations [II] Decrease in expected interest rate volatility [III] Expectation of an upcoming market rally

I only

II only

I and II only

I and III only

I, II and III only

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