According to the expectations theory of the term structure,

a. when the yield curve is steeply upward-sloping, short-term interest rates are expected to rise in the future.

b. when the yield curve is downward-sloping, short-term interest rates are expected to decline in the future.

c. buyers of bonds prefer short-term to long-term bonds.

d. all of the above.

e. only A and B of the above