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QUESTION 4 a. What are the cost advantages does money market have over the banking sector? (20 marks) b. Define financial frictions in your own

QUESTION 4 a. What are the cost advantages does money market have over the banking sector? (20 marks) b. Define "financial frictions" in your own terms and explain why an increase in financial frictions is a key element in financial crises? (10 marks)

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