TRUE OR FALSE. GIVE EXPLANATION.

a. Holding period return is equal to the price change relative to the initial price.

b. Normally, the effective annual rate (EAR) is greater than the annual percentage rate (APR).

c. Between two investment opportunities, we choose the one with a higher APR.

d. Between two risky assets, the one with a higher risk premium is better.

e. An assets risk premium is determined by the amount of nonsystematic risk it carries.

f. If a market is efficient in the strong form, it must be efficient in the weak form.