金融市场与机构(3).pdfVIP

Chapter 6 Are Financial Markets Efficient? Multiple Choice Questions 1. How expectations are formed is important because expectations influence (a) the demand for assets. (b) bond prices. (c) the risk structure of interest rates. (d) the term structure of interest rates. (e) all of the above. Answer: E 2. According to the efficient market hypothesis, the current price of a financial security (a) is the discounted net present value of future interest payments. (b) is determined by the highest successful