A Leakage Is

question 51

Multiple Choice

A leakage is

• A)An export from the economy.
• B)A decline in the capacity of the economy to produce goods.
• C)Income not spent directly on domestic output but instead diverted from the circular flow.
• D)A decrease in aggregate supply.

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Definitions:

Customary Fee

A charge or payment that is considered typical or usual within a particular industry, market, or legal context based on long-standing practices.

Apparent Authority

A situation in which a reasonable person would understand that an agent had the authority to act, even if the agent didn't have such authority.

Express Agency

An agency relationship formed by explicit oral or written agreement between the agent and the principal.

Implied Agency

A situation where an agency relationship is inferred from the actions of the parties rather than an explicit agreement.