A Study by Chen,Roll,and Ross in 1986 Examined All of the Following

Multiple Choice

A study by Chen,Roll,and Ross in 1986 examined all of the following factors in applying the Arbitrage Pricing Theory (APT) except the

A) Return on a market value-weighted return.
B) Monthly growth rate in U.S. industrial production.
C) Change in the consumer price index (CPI) .
D) Expected change in the bond credit spread.
E) All of the above factors were used in their 1986 study.