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A Market Decline of 23% on a Day When There

Question 33

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
E) none of the above

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