The steeply upward sloping yield curve in the figure above indicates that

A) short-term interest rates are expected to remain unchanged in the future.

B) short-term interest rates are expected to fall sharply in the future.

C) short-term interest rates are expected to fall moderately in the future.

D) short-term interest rates are expected to rise in the future.

The answer is D...But in the figure, can I consider the curve as the short-term rate?

I remember that when the long-term rate> short-term rate, the curve becomes upward.

Yield to Maturity Term to Maturity