A Mutual Fund Had Average Daily Assets of $4

question 78

Multiple Choice

A mutual fund had average daily assets of $4.7 billion in 2016. The fund sold $2.2 billion worth of stock and purchased $3.6 billion worth of stock during the year. The fund's turnover ratio is

• A) 37.5%.
• B) 22.6%.
• C) 15.3%.
• D) 46.8%.
• E) 20.7%.

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Definitions:

Long Run

A period of time sufficient for all markets to adjust to certain conditions, allowing for full economic analysis or impact assessment.

Compensating Differential

Additional payment or benefits granted to employees to offset unpleasant aspects of a job or differences in job desirability.

Pollution Free

A condition or process that does not emit harmful pollutants into the environment.

Housing Prices

The monetary value attributed to residential dwellings, often influenced by location, size, amenities, and market conditions.