For each of the following transactions, identify whether a financial intermediary is involved and, if it is a market transaction, state whether it occurs in a primary or secondary market:
a. A bank makes a mortgage loan to a home buyer.
b. The bank sells the mortgage loan to Fannie Mae.
c. A startup company obtains financing by selling shares of stock to private investors.
d. One of the investors of a startup company resells the stock to someone else.
e. The federal government sells Treasury bills at a weekly auction, where they are purchased by a pension fund.
f. The pension fund resells the Treasury bills to a bank.
g. A saver purchases 1,000 shares of Microsoft stock on the NASDAQ stock exchange.
h. Microsoft issues new stock, which it sells on the NASDAQ.