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Which one of the following asset classes had the highest level of risk over the 1926 to 2012 period as measured by the standard deviation?

Which one of the following asset classes had the highest level of risk over the 1926 to 2012 period as measured by the standard deviation?

Group of answer choices:

Long-term government bonds

Long-term corporate bonds

U.S. Treasury bills

Large-company stocks

Small-company stocks

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