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1,Information acquisition is a costly activity in reality. There is nothing inconsistent about having an efficient market and security analysts at the same time. True/false/uncertain?

1,"Information acquisition is a costly activity in reality. There is nothing inconsistent about having an efficient market and security analysts at the same time." True/false/uncertain? Why?

2, "Yield spreads increase during the recession." True/false/uncertain? Why?

3, Why previously bullet-immunized bond portfolios should be rebalanced?

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