A Nondemocratic Regime in Which Holy Texts or Religious Law

question 22

Multiple Choice

A nondemocratic regime in which holy texts or religious law form the foundation for its rule would be known as

• A) a theocracy.
• B) religious illiberalism.
• C) fundamentalist monism.
• D) orthodox authoritarianism.

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Definitions:

Yield To Maturity

The total return anticipated on a bond if the bond is held until its maturity date, expressed as an annual rate.

Duration

A measure of the sensitivity of a bond's or fixed income portfolio's price to changes in interest rates, often used to manage interest rate risk.

Modified Duration

A measure of the sensitivity of a bond's price to changes in interest rates, specifically reflecting how much the duration changes for a 1% change in yield.

Macaulay Duration

A measure of the weighted average time until a bond or fixed income portfolio's cash flows are received, used to gauge interest rate sensitivity.