The cost savings argument of the QSD is difficult to accept in efficient markets without barriers to capital flows because it implies that an arbitrage opportunity exists because of some mispricing of: Multiple Choice the default risk premiums on different types of debt instruments, and it implies that an arbitrage opportunity exists because of some mispricing of the exchange rates on different maturities of forward contracts. O the exchange rates on different maturities of forward contracts. the default risk premiums on the different types of debt instruments. o oo None of the options