In a franchising relationship
a. the franchisor is the principal
b. the agent is the franchisor
c. the franchisor is the agent
d. the principal is the franchisee
a
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If a price ceiling is imposed,
a. the market supply curve shifts to the right b. the market demand curve shifts to the left c. an excess demand for the good results d. the government would be required to buy the excess supply of the good e. the equilibrium price falls below the price level the government wishes to achieve
Central banks can increase the money supply by:
a. Increasing the discount rate. b. Selling government securities. c. Buying foreign exchange. d. Raising margin requirements. e. All of the above.
If the productivity of labor diminishes only slowly as output increases, labor:
A. demand will most likely be elastic. B. supply will most likely be elastic. C. demand will most likely be inelastic. D. supply will most likely be inelastic.
Exhibit 11- 7 Demand for labor curves
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In Exhibit 11-7, which of the following could have caused the shift in labor demand from D1to D2?
A. Increase in the demand for the product. B. Decrease in wages. C. Decrease in price of product. D. Decrease in demand for the product.