can you explain all the assumptions please

21. Assume the following zero-coupon yield curve. Which statement about this yield curve (or zero- coupon yield curves in general) is FALSE? 2022 Maturity (years) Zero-Coupon YTM 2021 3% 2023 4% 2024 4.5% 2025 5% 3.5% A) This yield curve implies that the bond market expects an economic expansion. B) (In general), the yield curve is more often upward sloping (as in this case) than downward sloping. C) The bond market expects the future one-year interest rate to increase in this case. D) The yield to maturity of every default-free 5-year coupon bond is equal to the arithmetic average of the zero-coupon yields (regardless the level of the coupon and the face value of the bond). Ans: D