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Question
Which one of the following applies to U.S. Treasury auctions?A. Every bidder has a choice of submitting either a competitive or a noncompetitive bid.
B. The purchase price paid by all bidders is the highest bid price.
C. Each bidder with an accepted bid will pay the individual price he or she bid.
D. All noncompetitive bids are accepted automatically.
E. Noncompetitive bids are ignored unless there are not enough competitive bids to buy the entire issue.
Answer
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