A Warranty Which Guarantees That a Defective Product Will Be

question 42

Multiple Choice

A warranty which guarantees that a defective product will be repaired or replaced free during the warranty period is known as a(n) ________.

• A)implied warranty
• B)full warranty
• C)disclaimer warranty
• D)limited warranty

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Definitions:

Interest Rate

The obligation, denoted as a percentage of the principal, incurred by borrowers for asset access from lenders.

Government Budget Deficit

The financial situation in which a government's expenditures exceed its revenues.

Loanable Funds

The resources available for borrowing, determined by the market for loans where savers supply funds and borrowers demand them.

Interest Rate

The cost of borrowing money or the return for investing money, expressed as a percentage of the amount borrowed or invested.