As argued in class, Macaulay's duration, as applied to the aggregate stock market, is a measure...

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As argued in class, Macaulays duration, as applied to the aggregate stock market, is a measure of the sensitivity of stock p

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The Correct Answer is (A) that is the Nominal Interest rate

Macaulay's duration, as applied to the aggregate stock market, is a measure of the sensitivity of stock prices to changes in the nominal interest rate

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As argued in class, Macaulay's duration, as applied to the aggregate stock market, is a measure...

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