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7. Which of the following is a statement of weak-form efficiency? A. If markets are efficient in the weak form, then it is impossible to

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7. Which of the following is a statement of weak-form efficiency? A. If markets are efficient in the weak form, then it is impossible to make consistently superior profits by using trading rules based on past returns. B. If markets are efficient in the weak form, then prices will adjust immediately to public information. 2 Page C. If markets are efficient in the weak form, then prices will adjust immediately to public information and prices reflect all information. D. If markets are efficient in the weak form, then prices reflect all information. 8. The different forms of market efficiency are A. weak form only. B. weak form and semi-strong form. C. weak form and strong form. D. weak form, semi-strong form, and strong form. 9. If the weak form of market efficiency holds, then A technical analysis is useless. B technical analysis is useless and stock prices reflect all information contained in past prices. C technical analysis is useless, stock prices reflect all information contained in past prices, and stock price returns follow a random walk. D technical analysis is useless and stock price retums follow a random walk. 10. Which of the following is a statement of semi-strong form efficiency? A Stock prices will adjust immediately to public information. B Stock prices reflect all information. C Stock prices reflect all information and stock prices will adjust to newly published information after a long-time delay. D Stock prices will adjust to newly published information after a long-time delay

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