Which of the following financial institutions pool deposits of customers and use the money to buy a portfolio of stocks or bonds or both?
A. Thrifts
B. Brokerage firms
C. Mutual funds
D. Investment banks
C. Mutual funds
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Federal government spending as a percentage of GDP was the highest since 1960 during: a. the Great Depression
b. the aftermath of the oil crisis in the Gulf nations. c. World War II. d. the aftermath of the Great Recession.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.
Under what conditions would the APC equal the MPC at all levels of disposable income?
A. When the aggregate expenditure line is horizontal. B. When disposable income is greater than consumption. C. When there is saving at very high levels of disposable income. D. When autonomous consumption equals 0.
Adjusting nominal Gross Domestic Product (GDP) for price changes from a base year yields
A. current Gross Domestic Product (GDP). B. real Gross Domestic Product (GDP). C. Gross Domestic Product (GDP) net of relative price changes. D. constant disposable income.