The wall street journal reports that the rate on three-year treasury securities is 5.25 percent and the rate on four-year treasury securities is 5.50 percent.
a. according to the unbiased expectations hypothesis, what does the market expect the one-year treasury rate to be in year 4, e(4r1)?
b. suppose the one-year interest rate expected in year four, e(4r1), is 6.10% instead of 6.25%. according to the liquidity premium hypothesis, what is the liquidity premium on the four-year treasury security, l4?
c. suppose the one-year interest rate expected in year four, e(4r1), is 7.00% instead, what are the possible explanantion?

Problem 3: access control pokeygram, a cutting-edge new email start-up, is setting up building access for its employees. there are two types of employees: managers and engineers, and there are three departments: security, networking, and human resoures. each employee works in a single department, and each department is housed on a different floor. managers are allowed access to any floor, while engineers are allowed access only to their own floor. there are three badge-operated elevators, each going up to only one distinct floor. every employee has one badge. pokeygram wants to use the best possible access control method in order to minimize delay for the elevators (a) access control matrix, 1. which of the following would you recommend that pokeygram use: (b) access control lists, or (c) capabilities? make sure to justify your answer. 2. what, if any, would be the benefits (and/or disadvantages) of using rbac (role-based access control) in this situation? keep your solution for this problem limited to 10-12 lines of text.