For each of the following cases, explain what service the financial intermediary is providing to savers or borrowers: risk sharing, liquidity, or information
a. A mutual fund allows savers to purchase shares in a large basket of stocks.
b. A bank takes in small deposits and makes large mortgage loans.
c. A life insurance company offers consumers life insurance, auto insurance, and fire insurance.
d. Workers have part of their paychecks deducted and placed into pension funds.
e. Banks provide depositors with research about investment opportunities.
f. An investment bank underwrites a new issue of stock.