The long-term bonds issued by state and local governments in the United States are called _____ bonds.

Question

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Municipal bonds are issued by state and local governments to finance public projects such as schools, highways, and hospitals. They are typically long-term bonds that provide tax-exempt income to investors. Treasury bonds are issued by the federal government, floating-rate bonds have variable interest rates, junk bonds have low credit ratings and higher default risks, and zero coupon bonds do not pay regular interest but are sold at a discount to face value.

The Long-Term Bonds Issued by State and Local Governments in the United