The Boom Period of the Late 1990s Was a Good

The boom period of the late 1990s was a good example of irrational exuberance because:

A) even though the stock market took a plunge investment spending continued to rise.
B) investment spending and the stock market became positively related.
C) stock prices for companies that had never turned a profit soared.
D) the present value of expected future dividend payments exceeded the stock share price.