38) Which of the following statements is not true: Liquidity black holes arise in situations where liquidity has dried up because everyone wants to sell and nobody wants to buy in a particular market In good economic times with the general price level of assets on the rise, the leveraging cycle allows an investor to increase leverage initially, only to end up with decreased leverage later on Liquidity black holes are an example of irrational exuberance. None of the alternatives 39) What is the proportional bid-offer spread of 100 shares of Google with bid $20 and ask $30? 0.4 0.5 0.33 0.6 0) Price fluctuations that result from external factors arising out of political, legal, or aggregate domestic or international changes in economic conditions is a source of: Default risk Liquidity risk Systematic risk Market risk