If Security Markets Are Semistrong-Form Efficient, Investors Cannot Solely Use

question 3

Multiple Choice

If security markets are semistrong-form efficient, investors cannot solely use ____ to earn excess returns.

• A) previous price movements
• B) insider information
• C) publicly available information
• D) A and C

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Definitions:

Ratification Campaigns

The organized efforts to persuade constituents to approve or ratify amendments, policies, or treaties.

First Congress

The initial meeting of the legislative branch of the United States government under the new Constitution, which took place from 1789 to 1791.

Bill of Rights

The first ten amendments to the United States Constitution, ratified in 1791, guaranteeing essential rights and freedoms to American citizens.