A(n) ________ refers to permission that an administrative agency grants to persons or businesses to conduct certain types of commerce or professions

In general, interest rates on short-term debt are higher than interest rates on long-term debt

because the borrower has less time to repay the loans, and hence the risk to the lender is higher. Indicate whether the statement is true or false

If a bond has a favorable tax treatment, its required interest rate (all else equal)

A) will be higher. B) will not be affected. C) will be lower. D) all of the above could happen.