An underwriter makes a minimal commitment to the issuer if the transaction is handled:

• A.as a competitive bid
• B.on a best-efforts basis
• C.as a Rule 144A transaction or as a Rule 415 transaction

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The following table presents selected common-size income and balance sheet data for Curative Drugs.

Which of the following conclusions can be drawn from the data presented above?

• A.Curative is tightening its inventory and accounts receivables policies.
• B.Curative shareholders are earning more per dollar invested in the company with time.
• C.Curative's sales, general and administrative costs are rising over time.

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Which one of the following would provide evidence against the semi-strong form of the efficient market theory?

• A.All investors have learned to exploit signals about future performance.
• B.Low P/E stocks tend to have positive abnormal returns over the long-run.
• C.About 50% of pension funds out perform the market in any year.

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In a perfectly competitive market:

• A.price does more of the adjusting in the long run and quantity does more of the adjusting in the short run.
• B.price does more of the adjusting in the short run and quantity does more of the adjusting in the long run.
• C.only quantity adjusts in both the short run and the long run.

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Which model(s) assumes sticky wages (workers don't want to lower their wages to help the market reach a new equilibrium)?
I). Keynesian school.
II). Neo-Keynesian school.
III). New Classical school.

• A.I only.
• B.III only.
• C.I and II.

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