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For the Financial Markets to Be Inefficient

Question 21

Multiple Choice

For the financial markets to be inefficient,:


A) arbitrage trading must be prohibited.
B) the collective irrational trading of some investors must exceed the corrective arbitrage trading of the remaining investors.
C) at least the majority of the investors must be overly optimistic.
D) each irrational investor must act independently of every other irrational investor.
E) irrational investors must become arbitrage traders.

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