Consider the following data concerning the NYSE:
|
Year |
Average Daily Trading Volume |
Annual High Price of an |
|
1991 |
178,917 |
$ 440,000 |
|
1992 |
202,266 |
600,000 |
|
1993 |
264,519 |
775,000 |
|
1994 |
291,351 |
830,000 |
|
1995 |
346,101 |
1,050,000 |
|
1996 |
411,953 |
1,450,000 |
What do you conclude about the short-run relationship between trading activity and the value of a seat?