Which of the following is consistent with the pure expectations theory of the yield curve? Check all that apply.

A flat yield curve suggests that the market thinks interest rates in the future will be higher than they are today.

An upward$-$sloping yield curve suggests that the market thinks interest rates are going to be lower in the future than they are today.

A downward$-$sloping yield curve suggests that the market thinks interest rates in the future will be lower than they are today.

An upward$-$sloping yield curve suggests that the market thinks interest rates are going to be higher in the future than they are today.