16 and 17 are general questions having to do with market efficiency Because there are severe legal penalties for insider trading Q14 a. The market is not weak-form efficient. b. The market is not semi-strong-form efficient. c. The market is not strong-form efficient. d. None of the above. Q15. If the market is weak-form efficient then It must also be semi-strong-form efficient. It must also be strong-form efficient. a. b. c. It cannot be semi-strong-form efficient. d. None of the above. Q16 If daily stock prices move in a random manner then this suggests a The market is not weak-form efficient. b. The market is not semi-strong-form efficient. c. The market is not strong-form efficient. None of the above d. Adverse selection is mostly due to Q 17. a. Asymmetric taxes. b. Transaction costs. c. Bankruptcy costs. d. Inside information