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Basic Question 1 of 3
The percentage change in stock market value is the sum of the percentage change in GDP, the share of earnings in GDP and the P/E ratio. In the long run, which factor must dominate? The percentage change in:
B. the share of earnings in GDP.
C. the P/E ratio.
A. GDP itself.
B. the share of earnings in GDP.
C. the P/E ratio.
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I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!
Barnes
Learning Outcome Statements
contrast capital deepening investment and technological progress and explain how each affects economic growth and labor productivity;
demonstrate forecasting potential GDP based on growth accounting relations;
CFA® 2026 Level II Curriculum, Volume 1, Module 9.