$4$

$3$

Multiple Choice

$4$ points

$5$

$6$

$7$

$8$

$9$

Since we know the relationship between bond prices and YTM is convex we should expect an increase in a bond's price when YTM declines to be a decrease in the price when YTM increases with the same magnitude.

Larger than

Smaller than or larger than, dpending on the level of the YTM$.$

Smaller than

Equal to