Which of the following statements is false? Select one: . If the wages rise, the substitution effect will always dominate the income effect. . The wage rate is an opportunity of leisure. Oc. The substitution effect refers to the fact if the wage rate increases, holding income constant, leisure hours will go down and work hours will increase. OD The income effect refers to the fact if income increases, holding wages constant, work hours will go down and leisure hours will increase. Which of the following statements is true? Select one: . Free rider is an example of adverse selection. . Covenants are legal contracts signed between the management and shareholders. Oc. Collateral and net worth make debt contract incentive compatible. OD. The most important external funds for non-financial sectors in Canada are stocks