Which of the Following Is True of a Statute of Repose

question 11

Multiple Choice

Which of the following is true of a statute of repose?

• A) It is a significant change in the law for people who are injured by products that cause immediate injury.
• B) It bars the bringing of a tort-based product liability suit usually after five years from the date the product is first sold to a user.
• C) The people covered by statutes of repose now can bring suit even if their injury is not discovered within the statutory period.
• D) The tort statute of limitations gives people one or two years from the time they discover their injury in which to bring their suit.

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Definitions:

Public Expenditures

Expenses made by the government for the development, maintenance of public services, and to support economic activities.

Crowd Out

A phenomenon where increased public sector spending reduces or eliminates private sector spending in the same market, often through higher interest rates or available financial resources.

Taxes

are compulsory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Domestic Output

The total value of all goods and services produced within a country's borders in a specific time period, often referred to as Gross Domestic Product (GDP).