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Question 8: Consider two different systems of financial markets: a spot market and a security market. Which of the following statements is true? a) the

Question 8: Consider two different systems of financial markets: a spot market and a security market. Which of the following statements is true?

a) the security market is at least as efficient as the spot market b) the security market allows for more trading possibilities than the spot market c) the security market to some degree allows to trade between dates and states d) all of the above

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