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Question 1 4 and allow a financial intermediary to offer safe liquid liabilities such as deposits while investing the depositors' money in riskier illiquid assets.
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and
allow a financial intermediary to offer safe liquid liabilities such as deposits while investing the depositors'
money in riskier illiquid assets.
Primary markets; foreign exchange markets
Free riders; regulations
Monitoring; diversification
Diversification; high equity returns
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