What Does an Upward-Sloping Yield Curve Imply, According to the Expectations

Multiple Choice

What does an upward-sloping yield curve imply, according to the expectations theory of the term structure of interest rates?

A) Investors expect long-term interest rates to fall in the future.
B) Investors expect future short-term interest rates to be lower than the current short-term interest rate.
C) Investors expect future short-term interest rates to be the same as the current short-term interest rate.
D) Investors expect future short-term interest rates to be higher than the current short-term interest rate.