According to the segmented markets theory of the term structure _____.

Group of answer choices

a because of the positive term premium, the yield curve will not be observed to be downward-sloping

b bonds of one maturity are close substitutes for bonds of other maturities, therefore, interest rates on bonds of different maturities move together over time

c he interest rate for each maturity bond is determined by supply and demand for that maturity bond

d investors' strong preferences for short-term relative to long-term bonds explains why yield curves typically slope downward