13. Which of the following statements is most likely FASLE: a. Over the past few decades, the dividend aristocrats have outperformed the SP500 based on capital gains (i.e. excluding dividends) b. Over the past few decades, the dividend aristocrats have outperformed the SP500 based on total return (i.e. including dividends) c. The dividend aristocrats outperformed the SP500 when the economy deteriorates d. The dividend aristocrats outperformed the SP500 when the FED first announced QE1 e. The US' Debt/GDP ratio was increasing several quarters before the FED first announced QE1 22. When estimating the growth rate of your retirement fund using historical data, it would be prudent (i.e. more conservative) to use the historical arithmetic average instead of the historical geometric average. Evaluate the underlined words in italics. True or False? a. TRUE b. FALSE