The submitted bids in the treasury bills auction consist of types which are _____________?
Correct answer: D. both A and B
- A. competitive bids
- B. non-competitive bids
- C. treasury bids
- D. both A and B
Explanation
Treasury-bill auctions accept both competitive bids, which state the desired yield or price, and non-competitive bids, which accept the auction result. Therefore, both listed types are included.
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