[Solved] Nobel Laureate Economist Milton Friedman Strongly Supported the Creation of the First
Nobel laureate economist Milton Friedman strongly supported the creation of the first successful financial futures exchange.In this regard,which of the following statements is INCORRECT?
A) Friedman saw a need for a trading venue to sell the British pound forward.
B) Friedman's offer to sell pound sterling forward was turned down because he could not post enough collateral.
C) Friedman's offer to sell pound sterling forward was turned down because the banks felt that he did not have the necessary "commercial interest" for dealing in foreign currencies.
D) The Chicago Mercantile Exchange chairman Leo Melamed commissioned Friedman to do a study that strongly supported the need for the creation of a futures market in currencies.
E) Friedman did a study and lobbied for the creation of a financial futures exchange by writing letters and issuing supporting statements.