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Basic Question 3 of 3
The high volatility of equity returns is mainly due to:
II. EPS/GDP.
III. P/E.
I. real GDP growth.
II. EPS/GDP.
III. P/E.
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Learning Outcome Statements
describe the relation between the long-run rate of stock market appreciation and the sustainable growth rate of the economy;
explain why potential GDP and its growth rate matter for equity and fixed income investors;
CFA® 2025 Level II Curriculum, Volume 1, Module 9.