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

Question $33$ Select one:

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.