Question

Which statement below is incorrect? A. If the market is efficient, stocks respond immediately to the public releases of relevant news. B. Compared to the field experiment, it is easier

for the lab experiment to control for the impact ofalternative theories. C. PACF captures the direct correlation while ACF captures both direct and indirect correlations. D. Short-selling is equivalent to borrowing money from the bank.

Fig: 1

Fig: 2

Fig: 3

Fig: 4

Fig: 5