NO.PZ201701230200000301
问题如下：
1. Madison’s views on the term structure of interest rates are most consistent with the:
选项：
A.local expectations theory.
B.segmented markets theory.
C.liquidity preference theory.
解释：
C is correct.
Liquidity preference theory asserts that investors demand a risk premium, in the form of a liquidity premium, to compensate them for the added interest rate risk they face when buying long-maturity bonds. The theory also states that the liquidity premium increases with maturity.
local expectation theory 不也是说长期会有risk premium存在吗？
