Examlex
The replacement of an existing bond issue with a new one is called refunding.
Normative Statements
Assertions about how the world ought to be, reflecting opinions or values rather than objective observations.
Rational Choice
The theory that individuals always make prudent and logical decisions that provide them with the greatest benefit or satisfaction and are in their highest self-interest.
Normative Statements
Assertions about how the world ought to be, involving opinions and subjective judgements.
Rational Choice
A theory assuming individuals use logical calculations to make prudent decisions that provide them with the greatest benefit or satisfaction.
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