1.Describe and compare a bond, a bill, and a stock. Highlight their underlying characteristics and briefly describe their underlying financial markets. 2.For a bond, define in detail the holding period yield, the spot yield, and the yield to maturity 3.Describe and compare the pure expectations hypothesis, the expectations hypothesis, and the liquidity preference hypothesis of the term structure of interest rate in the context of bond markets 4.In the context of variance bounds and other tests based on spiot yields, for bonds, define the perfect foresight long rate and its theoretical relationship with the actual long rate under rational expectations. How can regression analysis be employed to show that there is a relationship between this theoretical long rate and the actual long rate?