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Using short-hand symbols, explain the effects of a contractionary fiscal policy.
Semiannually
Occurring or payable twice a year.
Steel Pier
A historic oceanfront amusement park located in Atlantic City, New Jersey, known for its entertainment offerings.
Modified Duration
A measure that quantifies the sensitivity of a bond's price to changes in interest rates, adjusted for the bond's yield.
Coupon
A coupon refers to the annual interest payment received by bondholders, typically expressed as a percentage of the bond's face value.
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