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(b) Explain the meaning of the term ‘Efficient Market Hypothesis’ and discuss the implicat

(b) Explain the meaning of the term ‘Efficient Market Hypothesis’ and discuss the implications for a company if

the stock market on which it is listed has been found to be semi-strong form. efficient. (9 marks)

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更多“(b) Explain the meaning of the term ‘Efficient Market Hypothesis’ and discuss the implicat”相关的问题

第1题

Could you explain the ()of the title to me?

A.mean

B.meaning

C.meaningful

D.meaningless

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第2题

解释“边际技术替代率",边际技术替代率等于4意味着什么?Explain the term“marginal rate of technical substitution. ”What does a MRTS =4 mean?

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第3题

听力原文:W: I'm having a lot of trouble with logic and it seems my professor can't explain
it in a way that makes sense to me.

M: You know, there is a tutoring service on campus. I was about to drop statistics before they helped me out.

Q: What does the man mean?

(17)

A.He has difficulty mailing sense of logic.

B.Statistics and logic are both challenging subjects.

C.The woman should seek help from the tutoring service.

D.Tutoring services are very popular with students.

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第4题

Direction: Pick out the appropriate expression from the eight choices and complete the fol
lowing dialogue by blackening the corresponding letter on the answer sheet.

A. What happened?

B. Nice to meet you.

C. please take it easy.

D. No trouble at all.

E. Coffee, please.

F. I forgive you.

G. But he panned to.

H. Can I have the bill?

56. Tom: Hello, first let me introduce myself. I'm Tom Hall, I am in charge of MAP Advertising.

Tony: ______, I' m Tony Blair.

57. Student A: I am very grateful to you for taking so much trouble to explain the best way of getting there.

Student B: ______.

58. Child: Mom, I'm very sorry, really. I didn't mean to hurt you.

Mom: It's OK. ______. Do behave yourself next time!

59. Guest: Waiter! ______, please?

Waiter: Yes, sir. Here is the bill. The total is 200 yuan.

60. Doctor: ______? You don't look well.

Patient: I broke my left leg when climbing the mountain yesterday.

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第5题

Passage OneQuestions 21 to 25 are based on the following passage. Every artist knows in hi

Passage One

Questions 21 to 25 are based on the following passage.

Every artist knows in his heart that he is saying something to the public. Not only does he want so say it well,but he wants it to be something which has not been said before. He hopes the public will listen and understand-he wants to teach them. and he wants them to learn from him. What visual artists like painters want to teach is easy to make out but difficult to explain,because painters translate their experiences into shapes and colors,not words. They seem to feel that a certain selection of shapes and colors,out of the countless billions possible,is exceptionally interesting for them and worth showing to us. Without their work we should never have noticed these particular shapes and colors,or have felt the delight which they brought to the artist. Most artists take their shapes and colors from the world of nature and from human bodies in motion and repose:their choices indicate that these aspects of the world are worth looking at,that they contain beautiful sights. Contemporary artists might say that they merely choose subjects that provide an interesting pattern,that there is nothing more in it. Yet even they do not choose entirely without reference to the character of their subjects. If one painter chooses to paint a gangrenous(生坏疽的)leg and another a lake in moonlight,each of them is directing our attention to a certain aspect of the world. Each painter is telling us something,showing us something,emphasizing something-all of which mean that,consciously or unconsciously,he is trying to teach us.

All artists are common in that______.

A. they use shapes and colors instead of words

B. they are trying to teach the public

C. what they want to teach is difficult to explain

D. they want to learn from the public

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第6题

Living in a second culture can be like riding on a roller coaster. Sometimes foreign visit
ors are elated; sometimes they are depressed. First there is the combination of enthusiasm and excitement that is felt while travelling. New foods and aromas, different faces, foreign language, and interesting customs all fascinate the traveller. A foreign visitor usually has high expectations and is eager to become familiar with a new culture.

Of course, international travellers may have difficulties in understanding the adjustment problems that trouble them. Many people do not recognize that the problems, feelings, and mood changes that are related to living in a second culture are not unique. It is common for international visitors or immigrants to vacillate(摇摆) between loving and hating a new country. The newness and strangeness of a foreign cul ture are bound to affect a traveller's emotions.'

"Culture shock" occurs as a result of total immersion(沉浸) in a new culture. It happens to "peo ple who have been suddenly transplanted abroad". Newcomers may be anxious because they do not speak the language, know the customs, or understand people's behavior. in daily life. The visitor finds that "yes" may not always mean "yes", or that statements that appear to be serious are really intended as jokes. The notion of "culture shock" helps explain feelings of bewilderment and disorientation (不辨方向 ).Language problems do not account for all the frustrations(挫折) that people feel. When one is deprived of everything that was once familiar, such as understanding a transportation system, knowing how to register for university classes, or knowing bow to make friends, difficulties in coping with new society may arise.

The word "elated" (Para. 1, Line 2) means ______.

A.high-spirited

B.low-spirited

C.curious

D.impressed

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第7题

Arabs consider it extremely bad manners to start talking business immediately. Even the busiest government officials always take extra time to be polite and offer refreshments. No matter how busy

195. Arabs consider it extremely bad manners to start talking business immediately. Even the busiest government officials always take extra time to be polite and offer refreshments. No matter how busy you are, you should make time for this hospitality. The conference visit is a way of doing business throughout the Arab world. Frequently, you will have to discuss your business in the presence of strangers, who may or may not have anything to do with your business. Do not be surprised if your meeting is interrupted several times by people who come into the room unannounced, whisper, or speak softly to the person with whom you are talking, and leave. Act as though you do not hear, and never show displeasure at being interrupted. When an Arab says “yes”, he may mean “maybe”. When he says “maybe”, he probably means “no”, you will seldom get a direct “no” from an Arab because it is considered impolite. Instead of “no”, he will say “inshallah”, which means, “if God is willing”. On the other hand, ‘‘yes” does not necessarily mean “yes”. A smile and a slow nod might seem like an agreement, but in fact, your host is being polite. An Arab considers it impolite to disagree with a guest. [共5题]

(1) The main purpose of this article is to explain ________.

(A) why you need extra time when you visit Arab countries

(B) how to be polite when doing business in the Arab world

(C) why Arab officials are so busy

(D) what Arabs say when doing business

(2) According to the passage, which of the following would be considered polite?

(A) You leave angrily because of interruptions.

(B) You demand an immediate decision.

(C) You refuse a cup of tea and show pictures of your product right away.

(D) You look out of the window while a stranger comes in to speak with the host.

(3) From the passage, we know that ________.

(A) when an Arab wants to say “yes”, he often says “maybe”

(B) all Arab seldom disagrees with a guest to his face

(C) when an Arab agrees, a smile and a slow nod will be given

(D) “inshallab” is an English word

(4) Which of the following is NOT an Arab custom?

(A) To dislike being interrupted during their meeting.

(B) Often to give you a vague answer.

(C) Seldom to say “no” directly.

(D) Seldom hesitate to start talking business in the presence of strangers.

(5) The writer of this passage has probably ________.

(A) never been to the Arab world

(B) been against the Arab customs

(C) worked in the Arab world

(D) liked the Arab customs

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第8题

下列各项中哪些有可能是支持关税或出口补贴的有效论据,哪些不足,为什么? a.“美国的石油进口量越大,那么在

下列各项中哪些有可能是支持关税或出口补贴的有效论据,哪些不足,为什么?

a.“美国的石油进口量越大,那么在下一次世界性的石油短缺中石油价格就越高。”

b.“美国非时令水果如冬葡萄等供应的80%都来自智利。随着智利非时令水果出口量的不断增加,这些昔日的奢侈品的价格已大幅下降。”

c.“美国农产品出口不仅对农民意味着更高的收入,而且对任何一个把产品及服务出售给美国农业部门的人来说都意味着更高的收入。”

d.“半导体就好比是技术的‘原油’;如果我们自己不生产芯片,那么对每一个使用微电子技术的产业来说,关键的信息流动就会被破坏”。

e.“木材的实际价格下降了40%,以致成千上万的木材工人被迫去寻找其他工作”。

Which of the following are potentially valid arguments for tariffs or export subsidies,and which are not(explain your answers)?

a.“The more oil the United States imports,the higher the price of oil will go in the next world shortage.”

b.“The growing exports of off-season fruit from Chile.which now accounts for 80 percent of the U.S. supply of such produce as winter grapes,are contributing to sharply falling prices of these former luxury goods.”

c.“U.S. farm exports don't just mean higher incomes for farmers--they mean higher income for everyone who sells goods and services to the U.S. farm sector.”

d.“Semiconductors are the crude oil to technology;if we don't produce our own chips,the flow of information that is crucial to every industry that uses microelectronics will be impaired”

e.“The real price of timber has fallen 40 percent,and thousands of timber workers have been forced to look for other jobs.”

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第9题

Questions are based on the following passage.In the 1960s and 1970s, classic social psycho

Questions are based on the following passage.

In the 1960s and 1970s, classic social psychological studies were conducted thatprovided evidence that even normal, decent people can engage in acts of extreme crueltywhen instructed to do so by others. However, in an essay published November 20 in theopen access journal PLOS Biology, Professors Alex Haslam and Stephen Reicher revisitthese studies" conclusions and explain how awful acts involve not just obedience, butenthusiasm too——-challenging the long-held belief that human beings are "programmed"for conformity.

This belief can be traced back to two landmark empirical research (实证研究 )programs conducted by Stanley Milgram and Philip Zimbardo in the 1960s and early1970s. Milgram"s "Obedience to Authority" research is widely believed to show thatpeople blindly conform. to the instructions of an authority figure, and Zimbardo"sStanfordPrison Experiment (SPE) is commonly understood to show that people will take onabusive roles uncritically.

However, Professor Haslam, from the University of Queensland, argues that tyrannydoes not result from blind conformity to rules and roles. Rather, it is a creative act offollowership, resulting from identifying with authorities who represent vicious (恶意的 )acts as virtuous (善良的 ) .

"Decent people participate in horrific acts not because they become passive,mindless functionaries (公职人员 ) who do not know what they are doing, but ratherbecause they come to believe——typically under the influence of those in authority——thatwhat they are doing is right," Professor Haslam explained.

Professor Reicher, of the University of St Andrews, added that it is not that theywere blind to the evil acts they were committing, but rather that they knew what they weredoing, and believed it to be right.

These conclusions were partly informed by Professors Haslam and Reicher"s ownprison experiment, conducted in 2002 in collaboration with the BBC. The study generatedthree findings. First, participants did not conform. automatically to their assigned role;second, they only acted in terms of group membership to the extent that they identifiedwith the group; and finally, group identity did not mean that people simply accepted theirassigned position——it also empowered them to resist it.

Although Zimbardo and Milgram"s findings remain highly influential, ProfessorHaslam argues that their conclusions do not hold up well under close empirical scrutiny.

Professor Reicher concludes that tyranny does not flourish because offendersare helpless and ignorant; it flourishes because they are convinced that they are doingsomething worthy.

What does the author mean by saying "human beings are ‘programmed‘for conformity" (Line 6, Para. I)? 查看材料

A.Human beings are designed to defy the instructions of others.

B.Human beings are forced to listen to the advice of others.

C.Human beings are ordered to take advice of others.

D.Human beings are made to be obedient to others.

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第10题

Jupiter Communications, a market research firm, reports that 72% of teenagers in the U
nited States will be online by 2003 (Stanton, 2000). This alone indicates that students will learn and communicate electronically more than any previous generation. At the same time, teenagers are not the only digital learners. With the growing number of online courses, the increasing accessibility of computers, and the increasing number of computer users, students of all ages are taking advantage of distance learning or are using computers to enhance the traditional classroom experience.

Two things emerge in the study of students’attitudes toward online learning: individual situations impact students’ perceptions of computer-based learning, and students’ varied individual characteristics make it difficult to define their perceptions conclusively. For example, some students have their own computers, while others rely on computer labs. Such variation in computer access can result in attitudinal differences. In addition, the purpose of computer use varies. Distance education courses, for example, use computers in different ways than traditional classrooms, which can also affect students’ perceptions. A wide variety of achievement levels and attitudes exist among both online and traditional learners. Although an illusory “typical learner” exists, a variety of factors, including students’ gender, age, and motivation, could explain different reactions among the student population.

1).According to the passage, what does "digital learners" mean?()

A、Learners of mathematics

B、Learners of information technology

C、Computer users

D、Online learners

2).What will make online learning more and more popular?()

A、The crowded classrooms

B、The lower cost of computers

C、The increase of computer users

D、The previous generations interest in digital communication

3).Which of the following is the main factor that makes it difficult to define students'' perceptions of online learning definitely?()

A、Learners'' varied locations

B、Learners'' varied characteristics

C、Learners'' varied communication skills

D、Learners'' varied experiences

4).What is the author''s attitude towards online learning?()

A、cautious

B、indifferent

C、positive

D、negative

5).Who may become online learners?()

A、Mainly teenagers

B、Mostly college students

C、Only working people with their own computers

D、People of all ages and backgrounds

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第11题

Jupiter Communications, a market research firm, reports that 72% of teenagers in the Uni
ted States will be online by 2003 (Stanton, 2000.This alone indicates that students will learn and communicate electronically more than any previous generation. At the same time, teenagers are not the only digital learners. With the growing number of online courses, the increasing accessibility of computers, and the increasing number of computer users, students of all ages are taking advantage of distance learning or are using computers to enhance the traditional classroom experience.

Two things emerge in the study of students’ attitudes toward online learning: individual situations impact students’ perceptions of computer-based learning and students’ varied individual characteristics make it difficult to define their perceptions conclusively. For example, some students have their own computers, while others rely on computer labs. Such variation in computer access can result in attitudinal differences. In addition, the purpose of computer use varies. Distance education courses, for example, use computers in different ways than traditional classrooms, which can also affect students’ perceptions. A wide variety of achievement levels and attitudes exist among both online and traditional learners. Although an illusory ―typical learner‖ exists, a variety of factors, including students’ gender, age, and motivation, could explain different reactions among the student population.

1.According to the passage, what does 'digital learners' mean?()

A、Learners of mathematics

B、Learners of information technology

C、Computer users

D、Online learners

2.What will make online learning more and more popular?()

A、The crowded classrooms.

B、The lower cost of computers.

C、The increase of computer users.

D、The previous generations interest in digital communication

3.Which of the following is the main factor that makes it difficult to define students' perceptions of online learning definitely?()

A、Learners' varied locations.

B、Learners' varied characteristics.

C、Leamers' varied communication kills.

D、Learmers' varied experiences.

4.Who may become online learners?()

A、Mainly teenagers.

B、Mostly college students.

C、Only working people with their own computers.

D、People of all ages and backgrounds.

5.What is the author's attitude towards online learning?()

A、cautious

B、indifferent

C、positive

D、negative

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