Sample Code :-
%Let a = begin;
%let b1 = %str(&a);
%let b2 = %nrstr(&a);
%let b3 = %bquote(&a);
%let b4 = %nrbquote(&a);
%let b = end;
Actual Output :-
b1 = begin
b2 = &a
b3 = begin
b4 = begin
Expected Output :-
b3 = end
b4 = &a
Is this because bquote and nrquote are execution time whereas str and nrstr are compile time ?
As explained in SAS manual http://support.sas.com/documentation/cdl/en/mcrolref/61885/HTML/default/viewer.htm#z3514quote.htm,
%QUOTE and %NRQUOTE mask the same items as %STR and %NRSTR, respectively. However, %STR and %NRSTR mask constant text instead of a resolved value. And, %STR and %NRSTR work when a macro compiles, while %QUOTE and %NRQUOTE work when a macro executes.