4 E. None of the above are valid differences 23. What benefit do secondary markets for securities provide for the primary markets? A. The secondary markets make lighter regulation possible for the primary markets B. The secondary markets make it unnecessary for investment banks to create tertiary markets C. The existence of the secondary markets make primary markets more liquid D. The secondary markets are more tightly regulated E. None of the above 24. Which of the following is/are true? A. Financial intermediaries aid the flow of funds from deficit units to surplus units B. Financial markets aid the flow of funds from surplus units to deficit units C. Financial intermediaries aid the flow of funds from surplus units to deficit units D. Both B and I E. All of the above 25. According to your instructor, in which of the following countries do financial intermediaries move more funds than financial markets? A. United States B. Germany C. Canada D. France E. All of the above DI 000 000 7 FB