问题如下图:
选项:
A.
B.
C.
解释:
为什么考点是那个公式,就是下降,根据公式,不是应该长期增长为零,股票价格只和gdp增长有关吗?
NO.PZ201512020800000302问题如下2. Baseupon Observation 1, in the long run the ratio of profits to G in Country A is most likely to:A.remain neits current level.B.increase from its current level.C.crease from its current level.C is correct.The ratio of profits to G for Country A hbeen trenng upwarover the past severyears, anis now well above its historicaverage. The ratio of profits to G cannot rise forever. some point stagnant labor income woulmake workers unwilling to work without increase in wages anwoulalso unrmine man making further expansion of profit margins unsustainable. Thus, it is likely ththe ratio of profits to G will cline in the long run towarits historicaverage.考点 股票市场和G之间的关系.解析 公式% △P=% △ G+% △ ( E/G ) +% △ ( P/E )。上述公式中 , 在长期earnings相对于G的长期增长率% △ ( E/G )应该为0 。如果该比率一直持续增长,那么公司总有一天会吞并国家,这在现实生活中是不可能发生的。既然 现在该比率已经高于历史均值,那么这就预示着它会出现下跌。我理解lta E/Glong run要等于0,理想状态下应该是lta E/G慢慢减小到0,所以lta E/G会下降。但是,这题问的难道不是E/G吗?E/G应该还是持续增长直到增长不动了。如果下降的话,意味着lta E/G就小于0了,课上好像过这种情况
能不能一下答案?
为什么不选择current level 是指equilibrium level?
这个比率的增长率长期为零,并不是该比率为零,虽然高于历史平均值,但也是可能达到新的均衡值,技术进步带来的可能