The Country of Meritor Uses the Merit as Its Currency

question 199

Multiple Choice

The country of Meritor uses the merit as its currency. Recent national income statistics shows that it has GDP of 700 million merits, no government transfer payments, taxes of 210 million merits, a budget surplus of 60 million merits, and investment of 100 million merits. What is the sum of its consumption and government expenditures?

• A)600 million merits
• B)560 million merits
• C)490 million merits
• D)470

Grasp the concept of privity and its exceptions in the context of warranties extending to third parties.

Comprehend the conditions and limitations on disclaiming warranties within a contract.

Recognize the requirements to invoke the implied warranty of merchantability and fitness for a particular purpose.

Understand the court's interpretations and applications of warranties in specific legal cases.