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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 9, Problem 2TY
Textbook Problem
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Suppose that in the economy described in Test Yourself Question 1, interest rates suddenly fall to 3 percent. What will happen to the price of the bond that pays $3 per year?

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