please answer both que 12 and 13. thank you

Question 12 (1 point) Listen Equity prices often rise due to the growth rate in earnings (and dividends) rising faster than interest rates during the later part of the phase of the equity cycle. a) peak b) expansionary c) trough d) contraction Question 13 (1 point) Listen Which of the following circumstances may trigger a re-balancing of a portfolio under a dynamic strategy approach? a) Stock and bond markets have exhibited the same growth in percentage terms. b) Capital markets have stabilized. O c) Idle cash reserves have built up, d) Dividend or interest income cash flows are extremely low