The Variable ƒ_1,1 as Used in the Expectations Theory Is

The variable ƒ_1,1 as used in the expectations theory is interpreted as the forward rate for one year:

A) based on the prior one-year rate.
B) at 1%.
C) based on a 1% increase from the current rate.
D) commencing in one year.
E) based on a 1% probability of occurrence.