The price of a Treasury bond futures contract is set
A) by the federal government.
B) by the Chicago Board of Trade.
C) by the Federal Reserve.
D) as a result of bidding and offering by market participants.
D
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Which of the following is an advantage of an in-kind transfer in comparison to a cash payment?
a. In-kind transfers cost less to administer than cash transfers. b. In-kind transfers restrict the use of the benefit; thus, recipients receive necessities such as food and health care. c. In-kind transfers are more efficient than cash transfers. d. In-kind transfers give the recipient more utility than cash transfers.
The misperceptions theory of the short-run aggregate supply curve says that the quantity of output supplied will increase if the price level
a. increases by less than expected so that firms believe the relative price of their output has increased. b. increases by less than expected so that firms believe the relative price of their output has decreased. c. increases by more than expected so that firms believe the relative price of their output has increased. d. increases by more than expected so that firms believe the relative price of their output has decreased.