Which of the Following Statements Concerning Historical Investment Risk and Return

Which of the following statements concerning historical investment risk and return is false?

A) The geometric mean of the rates of return was always lower than the arithmetic mean of the rates of return.
B) The rates of return on long-term U.S. government bonds were lower than on stocks.
C) Real estate investments consistently provide higher rates of return than those provided by common stock.
D) Stocks and bonds experienced results in the middle of the art and antiques series.
E) none of the above (that is, all are true statements)