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 returns 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. 11. Weak-form efficiency implies that past stock returns A form patterns that tend to repeat. B are major inputs to investors for forming trading strategies. C do not help to predict future returns. D are difficult to explain