Which of the following statements is correct? Select one: a. The probability of default is higher on short -term bonds than on long-term bonds. b. Reinvestment rate risk is lower, other things held constant, on long-term than on short-term bonds. c. According to the market segmentation theory, the yield curve is expected to slope downward. d. Borrowers prefer to borrow on a short-term basis, as a result, the yield curve is downward sloping. e. If the inflation was expected to decrease in the future, then the yield curve would have an upward slope.