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11. A market decline of 23% on a day when there is no significant macroeconomic event consistent with the EMH because (a) (b) (c) (d)

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11. A market decline of 23% on a day when there is no significant macroeconomic event consistent with the EMH because (a) (b) (c) (d) would be; it was a clear response to macroeconomic news would be; it was not a clear response to macroeconomic news would not be; it was not a clear response to macroeconomic news would not be; it was a clear response to macroeconomic news

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