A professionally managed portfolio of assets intended to provide income to retirees is called:
A. a mutual fund.
B. a stock.
C. a derivative.
D. investing by proxy.
A. a mutual fund.
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When changes in taxes and government purchases occur in the economy without explicit action by Congress, such changes are referred to as
A. discretionary fiscal policy. B. automatic stabilizers. C. cyclical stabilization. D. implicit stabilization.
Suppose that real GDP grows by 3 percent a year, the quantity of money grows 5 percent a year, and velocity does not change. In the long run, the inflation rate equals
A) 3 percent. B) 5 percent. C) 8 percent. D) 10 percent. E) 2 percent.
If Pearl is a risk averse, then
A) expected utility has nothing to do with her choices. B) she does not have diminishing marginal utility of wealth. C) she will not buy insurance. D) risk is costly to her.
Recall the Application about a South African consumer lender that offered different interest rates in loan offers via mass mailings to answer the following question(s).According to the Application, the number of women who accepted a particular loan offer from the mass mailings ________ when the offer letter included the picture of ________.
A. increased; a man, rather than the picture of a woman B. increased; a woman, rather than the picture of a man C. decreased; either a man or a woman D. was unaffected; either a man or a woman