单项选择题

Which of the following about the description of the security market line (SML) is false()

A. The SML will shift downward in a parallel fashion if inflation expectations increase.
B. The SML will shift upward in a parallel fashion if capital markets tighten.
C. The SML will rotate counterclockwise if risk perception increase.

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单项选择题From a theoretical perspective, even though the assumption that investors can borrow and lend at the same (risk-free) rate is violated, a straight-line capital market line can still be constructed if:（）

A. investors are risk neutral.
B. there are no transaction costs.
C. a zero-beta portfolio exists and yields more than the risk-free rate.

单项选择题Which of the following will NOT cause a parallel shift in the position of the security market line (SML)()

A. A decrease in the rate of inflation.
B. An increase in expected real economic growth.
C. An increase in the perceived riskiness of BBB bonds.