a. Please provide an understanding of the theory of capital market efficiency. b. Why is it a theory? c. What is the exact definition of an efficient capital market? d. What is the difference between productive efficiency and efficient capital markets? e. What is the difference between allocation efficiency and efficient capital markets? f. What causes markets to be efficient? g. What are the forms or levels of capital market efficiency? h. Why does a CEO or a CFO care about capital market efficiency? i. What are the implications for the investor? Marx starts his economic analysis by stating, labor is the only factor in production that creates value. According to mainstream economics, on the other hand, means of production, for example, machines used in production, also create value. Why does Marx think, machines used in production don't create value? What kind of a role do the machines play in the Marxian model of production? What do you think in general on the role of machines in economics? Do you think labor is more important and central compared with the role of machines in production? Or do you think machines are as central as labor in production? Explain your answer. The practice of passive portfolio management is supported by portfolio management is supported by. Capital market is efficient; capital market is efficient O Capital market is efficient; capital market is not efficient O Capital market is not efficient; capital market is not efficient; Capital market is not efficient; capital market is efficient; , while the practice of active Question 15 (1.667 points) Which one of the following factors is irrelevant in explaining portfolio returns in Canada using a multifactor asset pricing framework? Oil price is expected to reach $60 per barrel next year. The interest rates implied by 10-year bonds issued by Canadian Government Prime rate of Bank of Canada is set at 1% The exchange rate Canadian Tire Inc. is expecting sales growth in next year. The principal differences between capital markets and money markets are that: a. capital markets deal in long-term debt and equity securities, while money markets deal only in short-term debt b. both markets deal in short-term debt securities; however, capital markets deal also in equity securities which have an indefinite term C. money markets deal only in short-term government debt d. money and capital markets deal in the same securities, the only difference is term