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7. Which of the following statements would the Elton-Gruber-Rentzler study agree with? a. Commodity fund prospectuses accurately reflected the future performance of the commodity fund.

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7. Which of the following statements would the Elton-Gruber-Rentzler study agree with? a. Commodity fund prospectuses accurately reflected the future performance of the commodity fund. b. Returns on commodity funds were highly correlated with inflation. c. Commodity funds had relatively small total transaction costs. d. On average, commodity funds produced large excess returns. e. Commodity funds took initial positions which were both long and short. 8. Which of the following statements is consistent with the results of the Bodie-Rosansky study? a. They support both the traditional Capital Asset Pricing Model and the theory of normal backwardation. b. They support the traditional Capital Asset Pricing Model but do not support the theory of normal backwardation c. They do not support the traditional Capital Asset Pricing Model but do support the theory of normal backwardation. d. They do not support either the traditional Capital Asset Pricing Model or the theory of normal backwardation, 7. Which of the following statements would the Elton-Gruber-Rentzler study agree with? a. Commodity fund prospectuses accurately reflected the future performance of the commodity fund. b. Returns on commodity funds were highly correlated with inflation. c. Commodity funds had relatively small total transaction costs. d. On average, commodity funds produced large excess returns. e. Commodity funds took initial positions which were both long and short. 8. Which of the following statements is consistent with the results of the Bodie-Rosansky study? a. They support both the traditional Capital Asset Pricing Model and the theory of normal backwardation. b. They support the traditional Capital Asset Pricing Model but do not support the theory of normal backwardation c. They do not support the traditional Capital Asset Pricing Model but do support the theory of normal backwardation. d. They do not support either the traditional Capital Asset Pricing Model or the theory of normal backwardation

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