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沪上小王子 · 2024年02月06日

labor input+labor productivity= real gdp,所以题中要加上inflation?

NO.PZ2020012201000007

问题如下:

Alena,CFA, was updating her firm’s projections for US equity returns.If she believed that in the long run that the US labor input would grow by 0.9% perannum and labor productivity by 1.5%, that inflation would be 2.1%, that the dividend yield would be 2.25%, and that there would be no further growth in P/E, what is likely to have been her baseline projection for continuously compounded long-term US equity returns?

选项:

A.

6.75%

B.

5.5%

C.

5.85%

解释:

A is correct

解释:

在长期,一国股票市场的增长率等于该国GDP的增长率(本题P/E增长率为0也证实了这一点)。那么本题就等于计算该国GDP的增长率。

Her baseline projection is likely to have been 6.75% = 0.9% + 1.5% + 2.1% + 2.25%

依照公式可得:. 6.75% = 0.9% + 1.5% + 2.1% + 2.25%

rt

1 个答案
已采纳答案

源_品职助教 · 2024年02月07日

嗨,努力学习的PZer你好:


同学的理解是对的,参照原版书给出的答案,

就是默认labor input+labor productivity= real gdp。

一般在三级CME中谈及的宏观变量(没有特别的说明的情况下)也多为是真实值


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努力的时光都是限量版,加油!

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