Which of the following is the most plausible reason why the Investment Management Process is said to be a dynamic process Investors grow older but their life span is limited and economies first grow but then stagnate Economies are forever changing faster than investors can keep up with According to the diagram we learned in class, the process is fixed Underdeveloped economies do not grow and the investors that live there have fixed life expectancies Investors grow older and economies grow, decline or stagnate Douglas is a demand-side economist at the Federal Reserve bank of Kansas and Josephine is a supply-side economist with the Board of Governors of the Federal Reserve Bank System in Washington, D.C. Two days ago, you had a conversation with Douglas during which he stated that Josephine would most likely agree with which of the following statements: Real output and aggregate employment are primarily determined by tax rates. Real output and aggregate employment are primarily determined by aggregate demand. Real output, real income and aggregate employment are all determined by aggregate government fiscal expenditures and net exports. Increasing the money supply will increase real output without causing higher inflation. Real income will rise when government expenditures and tax rates increase. an investment manager in Kansas City, is trying to answer the following question: For which of the following entities is a clearly understood investment policy statement (IPS) not critical? I. Pension Funds II. Individuals III .Defined benefit and defined contribution pension funds I only III only II and III only none of these options (A clearly understood investment policy statement is necessary for all three.). II only Esperanza and Marjorie are investors who wish to do some analysis before starting to invest their life savings. Esperanza begins her analysis with a focus on the Airline industry. Marjorie begins her analysis by focusing on the health of Cupertino (in the US state of California), the city that houses the headquaters of Apple Company. Which of the following statements is most true? Both Esperanza and Marjorie are doing bottom-up analysis Esperanza is doing bottom-up analysis and Marjorie is doing top-down analysis Neither Esperanza nor Marjorie are doing top-down or bottom-up analysis. Neither Esperanza nor Marjorie are doing top-down analysis. They are both doing bottom-up analysis. Esperanza is doing top-down analysis and Marjorie is doing bottom-up analysis