In the Debate Between Gerald Sirkin and Eugene White Over

In the debate between Gerald Sirkin and Eugene White over the causes of the Stock Market Boom in the late 1920s, Sirkin maintains that prices of shares were ____, while White maintains that prices of shares were ____.

A) not too high because investors assumed that the current rate of growth of dividends would continue; too high because prices had risen much more rapidly than dividends.
B) too high because prices had risen much more rapidly than dividends; not too high because investors assumed that the current rate of growth of dividends would continue.
C) not too high because interest rates were extremely low in the late 1920s; too high because interest rates were extremely high in the late 1920s.
D) too high because interest rates were extremely high in the late 1920s; not too high because interest rates were extremely low in the late 1920s.

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