Question: Yields on bonds must be above the effective lower bound because: A the technology of banking cannot deal with negative yields. B positive yields are
Yields on bonds must be above the effective lower bound because:
| A | the technology of banking cannot deal with negative yields. | |
| B | positive yields are guaranteed by the U.S. Treasury. | |
| C | investors can always hold cash. | |
| D | demand deposits cannot have negative real returns. |
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