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Answer: The answer is JOINT TESTS OF MARKET EFFICIENCY AND THE RISK-ADJUSTMENT MEASURE
Most tests of semi-strong efficiency are JOINT TESTS OF MARKET EFFICIENCY AND THE RISK-ADJUSTMENT MEASURE.
The measure is designed to test whether inside information can be used to generate abnormal returns based on technical trading rules unable to generate any evidence of market anomalies joint tests of market efficiency and the risk-adjustment measure
Answer:
differentiation.
Explanation:
The Liberal Arts faculty failed to see the reason that every professor on campus would not make exactly the same amount of money, arguing that every person is of equal value. The business faculty relied on the laws of supply and demand and market forces to guide their wages and couldn't fathom why their counterparts could be such dunderheads. The source of conflict between these two groups is <u>differentiation</u>.