Solutions to Quiz 2 are after the questions

D) sensitivity of profits to changes in interest rates . 24. _____ is an industry with below-average sensitivity to the state of the economy. A) An asset play industry . B) A cyclical industry . C) A defensive industry . D) A stalwart industry . 25. When discussing bonds, convexity relates to the _____. A) shape of the bond price curve ................
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