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Macaulay Tells Us That "On Such Grounds of Reasoning, There

question 67

Essay

Macaulay tells us that "On such grounds of reasoning, there will be found no insuperable objections to those propositions of Dr. Price, which are so highly censured by Mr. Burke, as containing principles of the most seditious and dangerous nature; even though we should allow that every government which accords with the opinions and the inclinations of the large majority of the people, is, in an high sense of the term, a legitimate government." Do you agree with Macaulay? Explain your answer.


Definitions:

Interest Rates

The cost of borrowing money or the return for lending money, typically expressed as an annual percentage rate.

Yield To Maturity

The total return anticipated on a bond if the bond is held until its maturity date, including both interest payments and capital gains.

Annual Coupon

The annual interest payment made to bondholders, typically expressed as a percentage of the bond's face value.

Par Value

A nominal value assigned to a share of stock or bond that is typically printed on the face of the certificate.

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