Historically which has been true?

Multiple Choice

• The returns on small-company stocks were less volatile than the returns on large-company stocks.

• The risk-free rate of return remained constant over the time period.

• U.S. Treasury bills had a positive average real rate of return.

• Bonds had an average rate of return that exceeded the average return on stocks.

• The inflation rate was just as volatile as the return on long-term bonds.