NO.PZ2020012005000012
问题如下：
Is the futures price of a non-dividend paying stock likely to be greater or less than the expected future stock price? Explain your argument.
选项：
解释：
The futures price is the spot price compounded forward at the risk-free rate. Most stocks can be expected to provide a return greater than the risk-free rate. Hence, the expected future stock price is greater than the forward price.
futures price of a non-dividend paying stock & the expected future stock price分别是指什么？为什么答案会联系到forward price呢
