The total cost of carrying out a transaction in financial markets increases proportionally with the size of the transaction. (II) In North America, issuing stocks and bonds is the most important source of external for nonfinancial businesses

Select one:

a.

(I) is true; (II) false.

b.

(I) is false; (II) true.

c.

Both (I) and (II) are true.

d.

Both (I) and (II) are false.