If the Quality of a Good Deteriorates While Its Price

question 53

Multiple Choice

If the quality of a good deteriorates while its price remains the same,then the value of a dollar

• A)rises and the cost of living increases.
• B)rises and the cost of living decreases.
• C)falls and the cost of living increases.
• D)falls and the cost of living decreases.

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Definitions:

Implied Warranty

A legal assurance that a product will meet a minimum level of quality and functionality without being explicitly stated in a contract.

Particular Purpose

Refers specifically to the intended use or requirement for which something is sought or required, often in a legal or contractual context.

Matter of Law

Issues decided by a judge rather than by a jury, pertaining to legal interpretation rather than factual determination.

Transfer Title

The act of legally changing the ownership of a property or asset from one entity to another.