An upward-sloping term structure of interest rates indicates Multiple Choice the nominal rate is increasing even though the real rate may be constant as the time to maturity increases. the real rate of return is lower for short-term bonds than for long-term bonds. there is an indirect relationship between real interest rates and time to maturity, the nominal rote is declining as the real rate rises as the time to maturity increases there is an Indirect relationship between nominal interest rates and time to maturity