When, If Ever, Will the Geometric Average Return Exceed the Arithmetic

Multiple Choice

When, if ever, will the geometric average return exceed the arithmetic average return for a given set of returns?

A) When the set of returns includes only risk-free rates
B) When the set of returns has a wide frequency distribution
C) When the set of returns has a very narrow frequency distribution
D) When all of the rates of return in the set of returns are equal to each other
E) Never