Under a Consumption-Based Theory of the Pricing of Risky Assets,uncertain

Multiple Choice

Under a consumption-based theory of the pricing of risky assets,uncertain returns on such an asset should be discounted by a "stochastic discount factor" that takes into account:​

A) ​the mean and standard deviation of the uncertain return.
B) ​whether the uncertain return has a normal distribution.
C) ​both the nominal and real interest rates.
D) ​the rate of time preference and present and future marginal utility of wealth.