CYCLICAL INDUSTRIES HAVE EARNINGS THAT ARE SENSITIVE TO THE STATE OF THE ECONOMY

10. - CFA 2018 LEVEL 2 PORTFORLIO QUESTION BANK R50 ECONOMICS AND INVESTMENT MARKETS Q BANK
CFA 2018 LEVEL 2 PORTFORLIO QUESTION BANK R50 ECONOMICS AND INVESTMENT MARKETS Q BANK

10. A is correct. Cyclical industries have earnings that are sensitive to the state of the economy.