老师，18题是选A吗？ 原版书上的答案是C

05.单选题 已收藏 标记 纠错 A bond with a semi-annually coupon rate of 3% sells for $850. It has a modified duration of 10 and is priced at a yield to maturity (YTM) of 8.5%. If the YTM increases to 9.5%, the predicted change in price, using the duration concept decreases by: A $85.00. B $77.56. C $79.92. 查看解析 上一题 提交试卷 正确答案A 您的答案B本题平均正确率：80% Different types of Duration难度：一般 推荐：      答案解析 Approximate price change of a bond = (-)(duration)(Δy) P = -10（9.5% - 8.5%）$850 = (-0.1) ($850) = -$85 问：这里的价格为什么用原始价格，这里套公式没问题，但是问题是用哪个P搞不清楚，老师可否说的明白一些，让我好理解？

03.单选题 已收藏 标记 纠错 Which of the following statements about duration is most accurate? A Effective duration accounts for changes in a bond’s cash flows resulting from interest rate changes. B Modified duration is the most appropriate measure of interest rate sensitivity for bonds with embedded options. C Effective duration is calculated from past price changes in response to changes in yield. A 答案解析 Neither Macaulay nor modified duration is an appropriate measure of interest rate risk for bonds with embedded options. Macaulay duration does not take the current YTM into account as modified duration does. Effective duration, however, explicitly takes into account changes in a bond’s cash flows due to interest rate changes and is calculated from expected price changes in response to a given increase or decrease in yield. 问：记得不是说 effective duration是 从市场上找来的 V- 和 V+，所以为什么C说是expected cash flow，这里的现金流到底是预估的还找来的？

老师，这道题能不能帮我讲一下第二问

请老师分析一下on upswings...cash on downswings句子的语法结构，谢谢！

请老师分析一下on upswings...cash on downswings句子的语法结构，谢谢！

请老师分析一下on upswings...cash on downswings句子的语法结构，谢谢！

结构性赤字是什么意思？它的影响是？谢谢

麻烦老师解释下这题的含义，什么叫“moderate inflation”，它的影响是什么，谢谢

这题的意思是？