Answer the following statements true (T) or false (F)
1. You submit an order to buy 100 shares of stock. The price that you pay for the stock is more likely to be the ask price rather than the bid price.
2. In a securities market, the bid price is typically higher than the ask price.
3. One piece of evidence suggesting that the stock market is efficient is that most individual investors cannot earn returns that beat the overall market average return, but professional investors such as mutual fund and pension fund managers generally do earn higher-than-average returns.
4. One sign that the stock market is efficient is that prices in the market move seemingly at random, display almost no predictable, repeating patterns.
5. The Glass-Steagall Act was imposed to allow commercial and investment banks to combine and work together.
1. TRUE
2. FALSE
3. FALSE
4. TRUE
5. FALSE
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