The increase in ______________ have directly contributed to the growth in mutual funds over the last few decades.

Group of answer choices

- defined-contribution retirement plans and IRAs

- defined-benefit plans and pensions

- advertising by financial services companies

- workers paying FICA taxes

Which of the following is a characteristic of an exchange-traded fund (ETF)?

Group of answer choices

- The shares are invested only in common stock of publicly traded corporations

- Shares trade at the net asset value like shares in an open-end fund

- Shares are traded in the secondary market like shares in a closed-end fund

-The number of shares outstanding is fixed as in a closed-end fund