Which of the Following Is a Major Factor When Comparing

question 44

Multiple Choice

Which of the following is a major factor when comparing the differences in the cost of labour between countries?

• A)The country's Gross Domestic Product.
• B)Exchange rates.
• C)Labour laws.
• D)The type of labour.

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Definitions:

Express or Implied Authority

Power granted by a principal to an agent, which can be explicitly stated (express) or inferred from actions, circumstances, or job title (implied).

Disclosed Principal

In the realm of agency law, a principal whose identity the third party is aware of when the agent enters into a contract with that third party.

Unauthorized Contract

An agreement made by someone who does not have the legal right or power to do so on behalf of another person or entity.

Agent Lacks Authority

A situation where an agent acts outside of their given powers, potentially making their actions unbinding on the principal.