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Explanation:
In a weak-form efficient market, security prices fully reflect all past market data, which includes historical prices and trading volumes. Option A is incorrect because it omits trading volume information. Option C is incorrect because it includes current earnings, which are not considered in the weak-form efficiency hypothesis. This contrasts with semi-strong and strong-form market efficiency, where additional information is reflected.
In a weak-form efficient market, which of the following information is reflected in security prices?
A
Historical prices only
B
Historical prices and historical trading volumes only
C
Historical prices, historical trading volumes, and current earnings
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