Question
Zachary purchased BBC stock expecting the price to rise 15% in the coming year. After one year, BBC stock has actually moved up by 30%,
Zachary purchased BBC stock expecting the price to rise 15% in the coming year.
After one year, BBC stock has actually moved up by 30%, due primarily to new information released during the year concerning unexpectedly higher sales.
Which of the following describes this result?
| A. | This is a violation of weak-form efficiency | |
| B. | This is not a violation of semi-strong form efficiency | |
| C. | This is a violation of semi-strong form efficiency | |
| D. | This is not a violation of weak-form efficiency |
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Public Finance And Public Policy
Authors: Jonathan Gruber
2nd Edition
0716766310, 9780716766315
