Please answer true or false to the following questions

a. ____ The Federal Reserve Board directly sets the discount rate.

b. ____ For the holder of a fixed-rate coupon bond, reinvestment risk is a bigger problem during a period of falling interest rates than during a period of rising interest rates.

c. ____ If I believe that interest rates are going down in the future, I would purchase bonds with a very short duration to profit from this idea.

d. ____ If the yield curve is upward sloping, the 6-month forward rate will be greater than the 6-month spot rate and lower than 1-year spot rate. (Assume all rates are stated as bond equivalent yields.)

e. ____ When the perception in the economy is that credit risk is getting worse/higher, the spread between YTMs on corporate and Treasury bonds will likely narrow.

f. ______ Off-the-run bonds tend to be less liquid, and therefore have lower yields to maturity.