By Itself,a Reduction in the Price of Large Tractors Imported

question 56

Multiple Choice

By itself,a reduction in the price of large tractors imported into the United States from Russia

• A)decreases the GDP deflator and increases the consumer price index.
• B)increases the GDP deflator but leaves the consumer price index unchanged.
• C)increases both the GDP deflator and the consumer price index.
• D)leaves both the GDP deflator and the consumer price index unchanged.

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Definitions:

Strict Product Liability

A legal doctrine that makes manufacturers, distributors, or sellers liable for any defects in the products they market, regardless of fault or negligence.

Defective

Describes something that is flawed or lacking in some essential component, often leading to malfunction or failure.

Unreasonably Dangerous

A term describing a product or condition that poses a risk to health or safety beyond what would be expected by the ordinary consumer.

Strict Liability

A legal doctrine holding an individual or entity liable for damages or injuries caused by their actions, regardless of fault or intent.