The Monetary Base

question 62

Multiple Choice

The monetary base:

• A) is the least narrow definition of money.
• B) includes cash.
• C) cannot always be used immediately in transactions, but is accessible.
• D) is not very liquid.

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Definitions:

Products Liability Action

A legal claim against a manufacturer or seller for producing or selling a defective product causing injury or damage.

MacPherson Case

A landmark legal case that established the principle of duty of care in negligence, making manufacturers liable for harm caused by defective products.

Foreseeable Plaintiff

A person who is reasonably expected to be affected by a defendant's actions, thus entitled to protection under the duty of care in negligence law.

Duty of Care

A legal obligation imposed on individuals or organizations to adhere to a standard of reasonable care while performing any acts that could foreseeably harm others.