Mobile phones are available to almost every socioeconomic stratum

A buy-and-hold strategy implies that you

A) do not try to increase return by frequent trading. B) do not sell stocks for tax reasons. C) believe in exploiting economic cycles. D) are an unsophisticated investor who needs professional help.

Under usual circumstances, an increase in the discount rate causes

A) the federal funds rate to fall. B) the federal funds rate to rise. C) no change in the federal funds rate. D) the supply of reserves to increase. E) the supply of reserves to decrease.