3 Which of the following statements is CORRECT? O a. The most important difference between spot markets versus futures markets is the maturity of the instruments that are traded. Spot market transactions involve securities th: have maturities of less than one year whereas futures markets transactions involve securities with maturities greater than one year. O b. Capital market transactions involve short term low risk debt securities. O c. If General Electric were to issue new stock this year, this would be considered a secondary market transaction since the company already has stock outstanding. O d. NASDAQ dealers hold inventories of stocks. Question 21 4p Because the maturity risk premium is normally positive, the yield curve is normally a. upward sloping b. downward sloping O c. flat d. parabolic