从旅游市场需求角度看，旅游者的旅游需求是影响旅游经济结构的普通因素。 （）

(I) In most years the rate of return on short-term Treasury bills is below that on the 20-year Treasury bond. (II) Interest rates on Treasury bills are more volatile than rates on long-term Treasury securities.

A、(I) is true, (II) false.

B、(I) is false, (II) true.

C、Both are true.

D、Both are false.

widely held liquid security is the Treasury bill, which is commonly issued by the ministry of finance. However, some Treasury bills, like the Treasury bill of the U. S. government, do not actually pay interest. Instead they are issued at a discount from par (their value at maturity). The investor's yield comes from the increase in the value of the security between the time it was pm, chased and the time it matures.

Treasury bills are attractive to investors because they are backed by the government and therefore are virtually free of default risk. Because even if the government ran out of money, it could simply print more to pay them off when they mature. The risk of unexpected changes in inflation is also low because of the short term to maturity. The markets for Treasury bills in most developed countries are deep and liquid. A deep market is one with many different buyers and sellers. A liquid market is one in which securities can be bought and sold quickly and with low transaction costs. Investors in markets that are deep and liquid have little risk that they will not be able to sell their securities when they want to.

reasury bills are short - term and virtually free of default risk.

A．Right

B．Wrong

C．Doesn't say

A、Treasury bills.

B、Treasury notes.

C、Treasury bonds.

D、Treasury strips.

A、once a month.

B、once every 13 weeks.

C、once a year.

D、every two weeks.

All U.S. Treasury coupon strips are:

A. zero-coupon securities.

B. issued directly by the U.S. Treasury.

C. created from pooled coupon payments of U.S. Treasury securities.

Treasury bills are short-term and virtually free of default risk.

A．Right

B．Wrong

C．Doesn't say

A．Discounting

B．Transfer

C．Public placement

D．Private placement

The only disadvantage of investing Treasury bills is that ______.

A．the liquidity is not satisfactory

B．the return is not satisfactory

C．the investment is not so safe

D．the investment is not exempt from state taxes