At the end of last year, the market capitalization of the Chilean stock market was $232 billion. Trading volume was $48.95 billion. During the same time period, the Stock Exchange of Thailand had a turnover ratio of 70%. Which of the following statements regarding these two stock markets is true?

Multiple Choice

a. Chilean stock market is more liquid compared to the stock market of Thailand because the turnover ratio of the Chilean market is 474%.

b. Chilean stock market is less liquid compared to the stock market of Thailand because the turnover ratio of the Chilean market is 474%.

c. Chilean stock market is more liquid compared to the stock market of Thailand because the turnover ratio of the Chilean market is 21.10%.

d. Chilean stock market is less liquid compared to the stock market of Thailand because the turnover ratio of the Chilean market is 21.20%.

e. Chilean stock market is less liquid compared to the stock market of Thailand because the turnover ratio of the Chilean market is 4.74.

f. The stock markets of both countries have similar levels of liquidity.