Which of the following statements is false?

a. over long periods of time investments in risky U.S. stocks on average have earned higher returns than investments in safe U.S. government bonds

b. a bond whose coupon rate is higher than the market interest rate will be priced above its par value

c. based on the Capital Asset Pricing Model, an investment that has only systematic undiversifiable risk will earn an expected return equal to the risk free rate

d. over the past 50 years in the U.S. yields on long maturity treasury bonds have tended to exceed the yields on short maturity treasury bonds with comparable coupon rates