A Market Decline of 23% on a Day When There

question 7

Multiple Choice

A market decline of 23% on a day when there is no significant macroeconomic event ______ consistent with the EMH because ________.

• A) would be; it was a clear response to macroeconomic news
• B) would be; it was not a clear response to macroeconomic news
• C) would not be; it was a clear response to macroeconomic news
• D) would not be; it was not a clear response to macroeconomic news

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