Which one of the following is FALSE?

Select one:

a.

An upward-sloping yield curve is typically observed during economy expansion.

b.

For an upward-sloping yield curve, long-term inflation premium is greater than short-term inflation premium.

c.

Interest rate risk premium makes an upward-sloping yield curve steeper.

d.

For a downward-sloping yield curve, interest rate risk premium decreases with time to maturity.