Question: 3 for each of the following state whether it is...
3) For each of the following state whether it is True or False and provide a brief explanation (1 or 2 sentences) as to why it is true or false.
a) When we say a bank is engaging in asset transformation we mean in part that the bank is raising funds by selling low risk assets to depositors
. b) Financial intermediaries like banks make it more difficult for their customers to time big purchases like a new car.
c) When an individual buys a bond, their net worth instantly increases.