Consider a no-load mutual fund with $250 million in assets and 9 million shares at the start of the year, and $390 million in assets and 11 million shares at the end of the year. Investors have received income distributions of $5 per share, and capital gains distributions of $0.40 per share.
Required:
1. Assuming that the fund carries no debt, and that the total expense ratio is 1%, what is the rate of return on the fund?

Which of the following best describes the economic effect that results from the government having a budget surplus? a. consumers save more and spend less, enabling long-term financial planning. b. overall demand decreases, reducing the incentive for producers to increase production. c. banks have more deposits, enabling them to make more loans to investors. d. government spending increases, increasing competition for goods and services and driving prices up.