Please assist with the following multiple choice problems.
1) Without the participation of financial intermediaries in financial market transactions
a. information and transaction costs would be lower
b. transaction costs would be higher but information costs would be unchanged
c. information costs would be higher but transaction costs would be unchanged
d. information and transaction costs would be higher
2) Securities have a maturity of one year or less; _____ securities are generally more liquid
a. Money market; capital market
b. Money market; money market
c. Capital market; money market
d. Capital market; capital market