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Basic Question 2 of 6
Consider the following industries. Which industry will tend to exhibit the most volatility in profits and growth?
B. Grocery stores
C. The footwear industry
A. The automotive industry
B. Grocery stores
C. The footwear industry
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Learning Outcome Statements
explain how the phase of the business cycle affects short-term and long-term earnings growth expectations;
explain the relationship between the consumption hedging properties of equity and the equity risk premium;
describe cyclical effects on valuation multiples;
CFA® 2025 Level II Curriculum, Volume 6, Module 37.