Which one of the following statements is NOT true about secondary markets?
a. In terms of total volume of activity and total capitalization of the firms listed, the NASDAQ is the largest in the world and the NYSE is the second largest.
b. In terms of the number of companies listed and shares traded on a daily basis, the NASDAQ is larger than the NYSE.
c. Firms listed on the NYSE tend to be, on average, larger in size and their shares trade more frequently than firms whose securities trade on NASDAQ.
d. In the United States, most secondary market transactions are done on one of the many stock exchanges.
Answer: A
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