【单选题】According to the expectations theory of the term structure
A.
the interest rate on long-term bonds will exceed the average of short-term interest rates that people expect to occur over the life of the long-term bonds, because of their preference for short-term securities.
B.
interest rates on bonds of different maturities move together over time.
C.
buyers of bonds prefer short-term to long-term bonds.
D.
buyers require an additional incentive to hold long-term bonds.