According to the expectations hypothesis,

Multiple Choice

expectations of future short$-$term rates equal estimates of current short$-$term rates.

short$-$term bonds are perfect substitutes for long$-$term bonds.

when short$-$term rates are expected to remain constant in the future, the long$-$term interest rates are higher than current short$-$term interest rates.

when short$-$term interest rates are expected to rise in the future, the long$-$term interest rates are equal to current short$-$term interest rates.