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According to This Theory of the Term Structure,bonds of Different

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According to this theory of the term structure,bonds of different maturities are not substitutes for one another.


Definitions:

On Time

Refers to the condition or state of being operational or active at the expected or scheduled time.

Off Time

Represents the period when a system or component is not operating or is inactive.

PLCs

Abbreviation for Programmable Logic Controllers, specialized computers used to control industrial machines and processes.

Linear

Describes a relationship or process that proceeds in a straight line or in a direct, proportional manner without deviation.

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