Question: Instruction: Begin by answering whether the following statement is true or false. If you think a statement is false, explain your answer in ONE or

Instruction: Begin by answering whether the following statement is true or false. If you think a statement is false, explain your answer in ONE or TWO SENTENCES. If you think a statement is true, no explanation is required.]

The observation that the stock market earns abnormal returns in every January provides supportive evidence that the market is semi-strong efficient.

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