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What is the Ricardian equivalence theorem? What is the significance of this theorem for government deficit financing?
Express Warranty
A written or verbal promise made by a seller to a buyer, guaranteeing the quality or functionality of a product or service.
Merchantability
A guarantee that a product will meet reasonable expectations of quality and usability for which it was sold.
Nonconforming Goods
Goods shipped that do not meet the specifications or requirements set out in the contract of sale.
Reasonable Notice
The notification given within a reasonable time frame to allow individuals or parties to prepare or respond to changes or actions.
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