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In competitive bidding on the auction of a U.S. Treasury bond issue, the highest bidder A) pays the highest price. B) is most likely to
In competitive bidding on the auction of a U.S. Treasury bond issue, the highest bidder A) pays the highest price. B) is most likely to be allowed to purchase the full allotment on which they they bid. C) will be expecting the highest return. D) always pays more than non-competitive bidders. E) is always awarded the entire issue of Treasury bonds.
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