Problem
Between 1992 and 2002, the University of California's stock market holdings underperformed market averages by $2.3 billion. Officials pointed out that the loss was unimportant because they actually grew by $20 billion over that period. Identify the economic error in their reasoning.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.