单选题 Which of the following statements about theories of the yield curve is most likely correct?

A、 A liquidity preference cannot be consistent with a flat term structure of interest rates.
B、 The liquidity preference theory suggests that a downward-sloping term structure of interest rates is due to investors expecting short-term rates to decline, and although there is a maturity premium to consider, it is not large enough to offset the expectation of declining short-term rates.
C、 The pure expectations theory suggests that an upward-sloping term structure of interest rates is a consequence of investors expecting short-term rates to remain unchanged for a period of time, followed by investors expecting short-term rates to rise for a period of time.

【正确答案】 B

【答案解析】