Final answer:
The phrase 'caveat emptor' translates to 'let the buyer beware,' indicating that the buyer holds the principal responsibility for purchase decisions, not the seller. The FTC monitors false advertising claims, but due diligence falls on the buyer.
Step-by-step explanation:
The phrase caveat emptor does not mean that the seller is principally responsible for purchase decisions; rather, it translates to "let the buyer beware." This is a legal principle that places the responsibility of due diligence on the buyer rather than the seller.
The Federal Trade Commission (FTC) does check advertising for outright false claims about a product's performance to protect consumers, but when it comes to the veracity and quality of the product itself, the principle of caveat emptor applies. Therefore, the correct answer to the question is b) False. The buyer should always be vigilant and informed about their purchases, as they carry the principal responsibility for any decision made.