22. All else constant, a bond will sell at _____ when the coupon rate is _____ the yield to maturity. * A) a premium; less than B) a premium; equal to C) a premium; higher than D) par ; higher than 23. __________ is the variability of return on stocks or portfolios not explained by general market movements. It is avoidable through diversification. * A) Systematic risk B) Standard deviation. C) Unsystematic risk D) Coefficient of variation 24. You have purchased 200 shares of common stock at $50 per share by borrowing from your broker. The initial margin requirement is 50%. How much you have borrowed? * A) $5,000. B) $10,000. C) $5,200. D) $7,200 25. Which of the following does NOT characterize the money market? * A) High liquidity B) Securities are debt C) Short maturity D) High expected returns 26. Which of the following borrowers' demand for funds is least sensitive to interest rates? * A) Households B) Business C) Governments D) Foreign Corporations 27. Which of the following is the major monetary policy-making body of the Federal Reserve System? * A) Federal Reserve Bank district presidents B) Securities and Exchange Commission C) U.S. House of Representatives D) Federal Open Market Committee