问题如下图：
投机者持有的是期货空头，不是期货价格下降空头获利吗？这里怎么理解这个和预期即期价格之间的关系呢？
NO.PZ2020012005000028 问题如下 Suppose thspeculators tento take short futures positions on asset, while anheers take long futures position. WhwoulKeynes argue about the ability of futures prices to preexpectefuture spot prices? Keynes woulargue ththe futures prioverstates the expectefuture spot pribecause speculators are taking risks anrequire expectepositive profit to compensate for surisk. Heers are recing risk anmsatisfiewith a negative expectereturn. 为了促成合约，heer会降低futures price，所以就会比expectespot price低，这属于现货溢价。对吗？题目和答案关于arguement的说法应该怎么理解？
NO.PZ2020012005000028 问题如下 Suppose thspeculators tento take short futures positions on asset, while anheers take long futures position. WhwoulKeynes argue about the ability of futures prices to preexpectefuture spot prices? Keynes woulargue ththe futures prioverstates the expectefuture spot pribecause speculators are taking risks anrequire expectepositive profit to compensate for surisk. Heers are recing risk anmsatisfiewith a negative expectereturn. 我有一个疑问，在实物中，金融资产的期货价格就是无风险利率折现算出来的吗？因为很容易套利。那就不会出现backwartion的情况了吧？
这个题目是不是期货价格低于预估的现货价格吗，那应该是unrstate太对呀
