A) A sound legal system
B) A sound payment system
C) Strong fiduciaries
D) All of the above
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A) The government
B) Managers
C) The board of directors
D) The invisible hand
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A) Receive core deposits and make loans by addressing asymmetric information
B) Issue large CDs and buy stocks
C) Underwrite securities
D) Act as a broker
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A
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A) Characterizes the financial system in the United States and elsewhere
B) Is a system based on trust
C) Is used for making payments
D) Both a and b
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A) Specialist system
B) Over-the-counter system
C) Electronic communications networks (ECNs)
D) All of the above
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A) Securities dealers
B) Investment banks
C) Securities brokers
D) All of the above
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B
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A) Cost is lower
B) It's a matter of taste (preference)
C) Asymmetric information discourages investors (surplus units) from advancing funds to such units through direct means
D) There are SEC regulations
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C
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