Regarding the types of market efficiency, which of the following statements is necessarily true?

Select one:

a.

If the market is semi-strong form efficient, it is also strong form efficient.

b.

If the market is weak-form efficient, it is also semi-strong form efficient.

c.

If the market is strong form efficient, it is also semi-strong form efficient.

d.

If the market is weak-form efficient, it is also strong form efficient.