Which of the following has the least active secondary market?
A.
treasury bills
B.
banker’s acceptances
C.
certificates of deposit
D.
commercial paper
The Answer Is:
D
This question includes an explanation.
Explanation:
commercial paper. The sizes of secondary markets for these securities are listed in order with treasuries first, then banker’s acceptances, followed by certificates of deposit. There is only a very small secondary market for commercial paper.
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