Which of the Following Best Describes Guarantee

question 63

Multiple Choice

Which of the following best describes guarantee?

• A)It refers to the statement of what a selling company will do to compensate a buyer if a product is defective.
• B)It refers to the measure used to check if products conform to established standards of safety.
• C)It is an assurance that a product is as represented and will perform properly.
• D)It is a promise by a customer to pay for goods and services in a timely manner.

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Definitions:

Real GDP

A measure of a country's economic output adjusted for inflation, providing a more accurate representation of an economy's size and growth rate over time.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced within a country in a given period, reflecting the actual productivity.

Price Level

A comprehensive average of prices for all goods and services within the economic output.

Inflation

The surge in the overall pricing structure for goods and services, undermining the efficiency of spending.