Investing in financial instruments in today's economy:
A. is an activity practiced only by the wealthy.
B. is made easier by the use of mutual funds.
C. involves costly transactions.
D. requires a relatively large sum of money to invest (more than $100,000).
Answer: B
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The law of supply states that
A) producers are legally required to make necessary items available in the marketplace. B) there is a positive relationship between price and quantity supplied, ceteris paribus. C) producers should only sell the items when the price is right. D) producers should only produce what they can sell.
Intermediate inputs are
A) goods used for household consumption only. B) goods used for government consumption only. C) goods purchased by one business from another to use in production. D) goods purchased by foreigners. E) raw materials used in the production process.