NO.PZ201512020800000302
问题如下：
2. Based upon Observation 1, in the long run the ratio of profits to GDP in Country A is most likely to:
选项：
A.
remain near its current level.
B.
increase from its current level.
C.
decrease from its current level.
解释：
C is correct.
The ratio of profits to GDP for Country A has been trending upward over the past several years, and is now well above its historical average. The ratio of profits to GDP cannot rise forever. At some point stagnant labor income would make workers unwilling to work without an increase in wages and would also undermine demand, making further expansion of profit margins unsustainable. Thus, it is likely that the ratio of profits to GDP will decline in the long run toward its historical average.
考点 ： 股票市场和GDP之间的关系.
解析 ： 公式% △P=% △ GDP+% △ （ E/GDP ） +% △ （ P/E ）。上述公式中 ， 在长期earnings相对于GDP的长期增长率% △ （ E/GDP ）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delta E/GDPlong run要等于0，理想状态下应该是delta E/GDP慢慢减小到0，所以delta E/GDP会下降。但是，这题问的难道不是E/GDP吗？E/GDP应该还是持续增长直到增长不动了。如果下降的话，意味着delta E/GDP就小于0了，课上好像解释过这种情况
