Market efficiency implies

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1. Market efficiency implies

A) that there are no taxes.

B) that there is no point to buying common stocks.

C) that investors are irrational.

D) that consistently superior performance is very difficult even for professional investors.

2. The statement that there are no free lunches on Wall Street suggests that:

A) security prices reflect all available information.

B) food stocks offer the lowest rates of return.

C) there is no return to technical or fundamental analysis.

D) the market is strong-form efficient.

Reference no: EM132044519

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