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6. Carmichael's most appropriate response to Schmidt's questions about the justied P/E ratio is: a. Lower volatility of the US. equity market. b. Higher ination-adjusted

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6. Carmichael's most appropriate response to Schmidt's questions about the justied P/E ratio is: a. Lower volatility of the US. equity market. b. Higher ination-adjusted dividend growth rate. c. Higher correlation of US. equity market with international equity markets

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