Which of the following statements is incorrect about the money market?

Multiple Choice

The money market refers to financial markets in which short$-$term low$-$risk debt securities are traded.

The money market involves commercial and financial loans that range in duration from overnight to $1$ year.

The money market accounts for one$-$third of all lending and credit in the U$.$S$.$

The money market refers to just one market and one interest rate within the broader financial markets.