If an agent acts without the authority of the principal on a contract, who will be liable to third parties for any contracts entered into?
Ans: The agent will be liable for the contract
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The optimal level of resource use comes when
a. MRP exceeds input price. b. MRP is less than input price. c. MRP equals input price. d. use of the resource exhausts the producer's funds.
How international immobility of resources is compensated by international flow of goods
What will be an ideal response?
The supervision of banks includes:
A. requiring bank officers to attend classes on an annual basis. B. on-site examinations of the bank. C. requiring banks to file monthly reports on their revenues, expenses and profits. D. extensive background checks of all bank officers.
One of the reasons economists approve of limiting trade would be
A. the preservation of a high-wage company. B. the preservation of a high-employment company. C. the preservation of a large-production company. D. the desire not to encourage the employment of children.