Which One of the Following Applies to U

question 65

Multiple Choice

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.

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Definitions:

Illegal Subject

Refers to a topic or matter that is prohibited by law and cannot legally be the subject of a contract or agreement.

Voidable Contract

A contract that may be legally declared invalid by one party due to factors such as fraud or lack of capacity to consent.

Social Status

The position or rank of a person or group within the social hierarchy, determined by various factors including occupation, education, wealth, and heritage.

Necessary

A requirement or essential component that is needed for something to happen or be achieved.